The downturn in economic activity or recession in 2007 and 2008 forced many firms to develop new competitive strategies to survive.

1.The downturn in economic activity or recession in 2007 and 2008 forced many firms to develop new competitive strategies to survive. What changes in your strategy would you have made if you were manager of a company?2.Describe the changing economic variables in China that influenced McDonald's expansion strategies.Explain what factors led to the Mexican currency crisis and Peso devaluation in 1994 and how it affected Wal-Mart and other companies operating in Mexico at that time?3.Describe the changing economic variables in China that influenced McDonald's expansion strategies.Explain what factors led to the Mexican currency crisis and Peso devaluation in 1994 and how it affected Wal-Mart and other companies operating in Mexico at that time?4.When McDonald's introduced its Dollar Menu strategy in Fall 2002, why was the company hoping the demand for its product was elastic? Did this turn out to be the case? Why or why not?5.How did McDonald's development of mini restaurants improve its overall profitability? What variables other than price appear to have the biggest impact on the demand for McDonald's products? How much influence does the company have over these variables?Conclude with how the two cases illustrate the major theme "Changes in the macro environment affect individual firms and industries through the microecomomic factors of demand, production, cost, and profitability"

1. The downturn in economic activity or recession in 2007 and 2008 forced many firms to developnew competitive strategies to survive. What changes in your strategy would you have made if youwere...