Week 2 Discussion Mgt. Please put the question with each response along with references!!! Responses need to be between 50 to 100 words!!1)ÿWhat are sources of cost advantage and how does it affect a company’s strategy?ÿ2) ÿIdentify ways a company can improve its performance in order to effectively face the completion.3) ÿWhat are the key components of successful corporate governance and why is each component important?4) ÿWhat are the ethical tensions in advertising?ÿ5) ÿWho are the responsible parties for keeping advertising ethical and what is their specific responsibilities?6) ÿWhat should business owners know about their competition and how can they stay informed?7)ÿExplain the influence of ethics, social responsibility, and legal considerations on strategic planning.8)ÿAppraise costing and financial strategies.