Write an answer of one page for each of the following questions.
1. Describe some of the challenges that a new business might encounter in performing strategic planning.
2. Explain why a business should pursue only one of the four varieties of generic strategy.
3.Select a business that you are familiar with. Discuss the cost drivers that affect its value chain, and explain why you think that these drivers apply.
4. Describe the competitive advantage that you hope to achieve in your business, and explain how you will create this advantage in your value chain.
***My business is an independent brand functioning as an online retailer. The business model is based on producing great choices of styles and clothes released in limited quantities. We combine pop culture influences and innovative designs to bring something bright, colorful and fun(ky) at a reasonable price.***