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Topics: Strategic management, Strategic planning, Management Pages: 32 (5489 words) Published: May 29, 2014
Questions Chapter 01
The Concept of Strategy

True False Questions

Question title

Question stem

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Difficulty
1 Easy
2 Medium
3 Hard

Reference link

Topic
TF01.01
Strategy is a detailed plan and a program of instructions that every member of the organization must carefully follow to ensure success F
1
Introduction and objectives
Strategy definition
TF01.02
Strategy is a unifying theme and a general guideline
T
1
Introduction and objectives
Strategy definition
TF01.03
For most firms, luck appears to be the largest factor explaining whether they fail or succeed F
2
The role of strategy in success
Strategy definition
TF01.04
Executing a good strategy well often determines the extent of a firm’s success T
1
The role of strategy in success
Strategy role
TF01.05
A sound strategy requires four components: simple, short term goals; deep understanding of competitive environment; objective appraisal of resources; and effective implementation of the strategy F

2
The role of strategy in success
Strategy definition
TF01.06
The basic strategy framework links a firm to its owners – the shareholders F
1
The basic framework for strategy analysis
Strategy definition
TF01.07
The role of business strategy can be described as the selection of resources a firm chooses to achieve its long-term goals and the way it organizes those resources into activities T
2
Strategic management today
Corporate and business strategy

Strategy role
TF01.08
The conceptual problem with using SWOT analyses is that most people ignore deep analysis of internal factors and underestimate their own weaknesses F
3
A brief history of business strategy
From corporate planning to strategic management
Capsule 1.5
Analytical tool

TF01.09
The concept of “Strategic fit” describes the gap or fit between the environment and a firm’s strategy T
1
The basic framework for strategy analysis
Strategic fit
Strategy definition
TF01.10
Business strategy has intellectual origins in military strategy T
1
A brief history of business strategy
Origins and military antecedents
Strategy definition
TF01.11
Strategy denotes the entire plan whereas a tactic refers to a scheme for specific actions T
2
A brief history of business strategy
Origins and military antecedents
Strategy definition
TF01.12
Strategic decisions are important, involve a significant commitment of resources and should be easily reversible F
2
A brief history of business strategy
Origins and military antecedents
Strategy definition
TF01.13
Different perspectives in strategy have existed since the 1950s; each of them emphasized a particular aspect of strategy T
2
A brief history of business strategy
From corporate planning to strategic management
Strategy history and evolution
TF01.14
Strategy can be defined as the means by which individuals or organizations achieve their objectives T
2
Strategic management today
What is strategy?
Strategy definition
TF01.15
Strategy answers two basic questions: where and how to compete? T
2
Strategic management today
What is strategy?
Strategy definition
TF01.16
Two main levels of strategy can be distinguished: the corporate strategy level and the business (or competitive) strategy level T
1
Strategic management today
Corporate and business strategy

Strategy definition
TF01.17
A firm’s strategy includes different components used to articulate and communicate common goals, means and values, such as vision, mission, business model, and strategic plans T
2
Strategic management today
Identifying a company’s strategy

Strategy contents

TF01.18
An intended strategy is a set of initial ethical intentions; an emergent strategy comprises actions or changes that emerge from the organization or its environment; and finally, the realized strategy is the set of strategic changes and actions that actually takes place F

3
Strategic management today
How is...
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