a)With a deep understanding of the competitive environment within the industry, firms make sound strategic decisions lea

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a)With a deep understanding of the competitive environmentwithin the industry, firms make sound strategic decisions leadingto innovation and position in the industry. In regard to yourunderstanding of industries in Capstone simulation, explain thefive forces model of Michael Porter.
b.) Due to the ever-changing outside environment within theindustry, firms’ internal resources and capabilities offer a moresecure basis for strategy. With this background, explain a briefabout Porter’s value chain.
c). With your understanding of products and their production inthe Capstone Simulated environment, explain the drivers of costadvantage.
d.) Ikea’s value proposition is to provide good designs andfunctions at a low price. It does not meet all the needs of all thecustomers. This directs toward one of the important concepts ofstrategy. What is that? Explain the reasons for that aspect ofstrategy. e. Explain cross-functional capabilities andcross-functional integration in the context of your understandingof Capstone Simulation