You are renowned business guru and motivational speaker Mai Biz. You have been contracted by a prestigious national business organization to deliver a two part seminar on a couple of today’s hottest business topics: competitive advantage and international business.· Create a full 1,750- to 2,100-word transcript of your planned speech to meet the organization’s request.· Address the following questions for each topic:
Topic 1: Achieving Competitive Advantage
- How does the creation of value lead to competitive advantage?
- How may a firm achieve competitive advantage? Consider strategies of cost leadership, benefit leadership, and degrees of focus.
- How does the price elasticity of demand affect a firm’s strategic positioning for competitive advantage?
- What factors and strategies allow a firm to sustain competitive advantage? Cite at least one real life example of success and one real life example of failure in your explanation.
Topic 2: International Business
- What additional risks do multinational corporations face and what additional opportunities do they enjoy when compared with domestic firms?
- What strategies may a multinational corporation use to best take advantage of the opportunities discussed above?
- What strategies may a multinational corporation use to best mitigate the risks discussed above?
- How does achieving competitive advantage at an international level differ from achieving competitive advantage at a domestic level? How may a firm strategically position itself for international competitive advantage? Cite at least one example or strategy specific to international business.