Introduce your organisation and its objectives and examine its ownership structure, external and internal governance mechanisms and any forms of external control 2. Identify the basic sources of cost and differentiation advantage in your industry. Position your organisation and its major competitors in a strategic group diagram – use theory to explain your diagram 3. Use a value chain analysis of your organisation to identify sources of competitive advantage 4. Conduct a VIRO analysis of these sources of competitive advantage to determine whether they are strategic resources. Connect the development of these resources with the corporate governance mechanisms you identified in your answer to question one. The answer to Activity 3.2 should assist you 5. Make recommendations for the development of strategic resources (including the corporate governance process) to increase the competitiveness of your organisation, while staying within the same strategic group. (Recommendations that create competitive advantage consistent with the organisations current competitive advantages). You may wish to review your answers to Activity 3.7 Please note the clear "flow" from question to question. Each question informs the next.