understanding of strategic management

Applying your understanding of strategic management, answer the following questions: • How can business-level and corporate-level strategies be best used to gain a competitive advantage and earn above-average returns? Explain. • What are the advantages and disadvantages of competitive rivalry? • How can a company use competitive rivalry to its advantage? Provide examples. • Under what conditions would you choose a single or dominant business corporate-level strategy versus a more diversified strategy and why? Discuss.