1. What is the difference between strategy formulation and strategy implementation? What are the different levels of strategy? What are the different levels of strategy?

2. On what two dimensions are all business strategies based? What are the three dimensions of corporate strategy and how are they different?

3. Why should a firm choose a global strategy rather than a multidomestic strategy? How do the international strategies affect the trade-offs managers must make between local responsiveness and global efficiency?

4. Explain the five facets of the strategy diamond?

5. What is social entrepreneurship? How might a firm disrupt an existing market? What are the three facets of the entrepreneurial process?

6. Among those factors affecting the level of entrepreneurial activity, which might be the easiest to change and which might be the most difficult? Which might take the most time to change?

7. What key pieces of information would you need to assess whether you should launch a global start-up? Once you have decided to launch a global start-up, what key resources and capabilities must you begin putting into place?