3. The Resource Based View of strategy challenges the idea that firm profitability is primarily determined by industry structure. To what extent does the Resource Based View offer a more convincing explanation of firm profitability? Use appropriate literature to support your answer.
4. Strategic management tends to be thought of as a rational decision making process ending up with a strategic plan. Critically discuss this view using Johnson, Scholes, Whittington, Angwin and Regner’s ‘four lenses’ tool to support your answer.
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