Chapter in Theory essay ch 5

fter reading the assigned textbook chapter, one student per team will answer a set of chapter-related questions (listed on CC) based on an imaginary business using a random word generator (https://wordcounter.net/random-word-generator; generate 3 words and be creative). Importantly, exhibit critical thinking. (No need to summarize the chapter.) Format: about 2-3 pages long, 1” margins, Times New Roman 12 point font, 1.5 line spacing, with page numbers. So pretty much makeup company based on 3 randomly generated wordsAnswer following questionsChapter 5 – Business-level Strategies / Generic Strategies· Describe what does your firm do; what is your product or service? ; be sure to explain its position on the product value chain (i.e., is in manufacturing, wholesale, retail, etc.).· What is your company’s generic strategy? Remember, you need to answer separately two questions: [1] what is the source of your competitive advantage, and [2] what is your market scope.· What are the advantages and disadvantages of your generic strategy?· Where are you positioned on the Value Creation Frontier? Explain.· Describe the situation where your company changes its generic strategy to the opposite one, what would be needed to happen to make the change? (e.g., switch from Wide Low-Cost Leader to Focused Differentiation; or from Wide Differentiation to focus Low-Cost.)08/05/202050businessfinance