i need these questons answers Question 1 Class, as you begin analysis of your new product/service line, a key component of the strategic planning process is to achieve competitive advantage. In this chapter (pg 111), the authors identified 8 common mistakes executives make when identifying their competition. Of these 8 (section: Common Mistakes in Identifying Competition), do any have greater applicability to your new product/service line? What recommendations do you have for ways in which to overcome these mistakes? Global enterprises analysis This chapter is focused on global enterprise, and brings up unique considerations when conducting business in that realm. The authors contend that due to six events (increased scope of global management task, increased globalization of firms, the information explosion, the increase in global competition, rapid development of technology, and strategic management planning breeds managerial confidence), soon all industries should evaluate global environments.After reading more about these six factors, do you agree with the authors? Will you consider global environments for your new division and the new product/service you are developing? Why/why not? Question 3 Class, an essential element of analysis concerns monitoring external influences/drivers. The goal is to assess the drivers of change and ascertain the impact of these change drivers as it relates to market demand, competition, and industry profitability. Of the 12 most common drivers of industry change (copied below), which have applicability to your industry and which do you believe will have greatest impact, to the extent you will devote effort to monitoring the driver(s)? "Table 3.3 The Most Common Drivers of Industry Change 1. Changes in the long-term industry growth rate 2. Increasing globalization 3. Changes in who buys the product and how they use it 4. Technological change 5. Emerging new Internet capabilities and applications 6. Product and marketing innovation 7. Entry or exit of major firms 8. Diffusion of technical know-how across companies and countries 9. Improvements in efficiency in adjacent markets 10. Reductions in uncertainty and business risk 11. Regulatory influences and government policy changes 12. Changing societal concerns, attitudes, and lifestyles" Question 4 What are the key planning factors for competitive success? Provide an example of an organization that has achieved competitive success through planning. Provide an example of an organization that has failed to achieve competitive success as the result of failed planning. Question 5 In Chapter 5, the authors discussed 5 generic competitive strategies (overall low-cost, broad differentiation, focused low-cost, focused differentiation, or best-cost). After reading more about these strategies, which do you believe is the best strategy to adopt for your new product/service? Please explain. Question 6 Class, Mr. Stewart, in thi.