BS6100(S) Strategic Management (Aventis) Retake Assessment April 2017 Answer the following three questions using examples to support and illustrate your discussion. 1. Define critical success factors, resources and competences. Using examples to illustrate your answer, discuss how understanding and managing these different elements can create sustainable competitive advantage. 2. Why might organic (or internal) development be recommended as an appropriate method for strategic development? With examples highlight the risks and benefits associated with this strategic method. 3. Discuss the contrasting characteristics and objectives of a cost leadership strategy and a differentiation strategy. How do Porter (1980) and Bowman (1995) differ in their view on combining these approaches to competitive strategy?  You must demonstrate an understanding of the theory and use examples to show you are aware of application of the theory.  Maximum word count is 1000 words per question.  Harvard referencing should be used