Corporate Strategy

Corporate Strategy
Take home exam
Guidelines:
1. You need to submit a 200 word answer to each of the five questions below. Please include
in your response the full question as it appears below. That helps me in the process of
marking. You can use figures, graphs, and tables in your answers if you want. Use at least
11pt font size. Single line spacing will do.
2. The objective of this assessment is to determine whether you are able to demonstrate a
level of understanding that is consistent with what would be required to pass this course.
3. In-text citations and reference lists are not required. You need to write your answers in your
own words. That is, copying sentences from the textbook is not what is expected. I’d like to
see as far as possible your own articulation of the concepts being examined.
Questions
1. Explain the concept of “economies of scale”. How does this differ from a similar sounding
term “economies of scope”? (Chapter 2)
2. What do you mean by the term “(horizontal) diversification”? What are some of the
advantages and disadvantages of being a horizontally diversified firm? (Chapter 2)
3. If someone asks you what the term “vertical integration” means, how would you describe it?
Also, what would you consider as a key reason for why firms vertically integrate into different
stages of the value chain? (Chapter 3)
4. Briefly describe the basic idea behind Porter’s five forces model. (Chapter 8)
5. Briefly describe Porter’s “generic strategies” (Chapter 9)

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