Use the discussion questions to engage further with the text – form debates with friends or formulate essay questions using them to open up new avenues of learning and help with revision.

1. What is the value chain? How is it useful to strategy formulation?

2. How do a SWOT analysis and SW/OT matrix help managers in the strategic decision-making process?

3. What types of alternatives can be generated from a SW/OT matrix?

4. Should an organization change strategies when performance declines? Explain.