study questions

each question needs to be 250 words each with a reference. 

1) In your own words, describe the differences between the industrial  organization (I/O) and the resource-based models of above-average  returns. As an analyst, how would you determine the significance or  validity of these models with respect to a given industry?

2) How do vision and mission statements affect the strategic management  process? Select an example of strong vision and mission statements and  include them here. Why do you think these are strong statements? How do  the statements contribute to a perception of company's overall  competitiveness? Cite any sources used to support your answer