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Category: Literature
Date Submitted: 11/08/2012 04:52 AM
Chapter 1
The Concept of Strategy
Test Bank
True/False Questions
1. Strategy is a detailed plan and a program of instructions that every member of the organization must carefully follow to ensure success.
False
Page: p4
2. Strategy is a unifying theme and a general guideline.
True
Page: p4
3. For most firms, luck appears to be the only factor explaining whether these organizations fail or succeed.
False
Page: p5
4. Strategy is a major determinant of the probability and the extent of the success of a firm.
True
Page: p5
5. One can describe a sound strategy in terms of four factors: goals; understanding of competitive environment; appraisal of resources; and implementation of strategic decisions.
True
Page: p9
6. Analytic frameworks or models that represent the firm within its competitive environment are unlikely to be of any use to managers in the practical task of developing strategies for their businesses.
False
Page: p27
7. The role of business strategy can be described as the determination of a firm’s resources to achieve its long-term goals and as the way it organizes its activities.
True
Page: p11
8. In the SWOT model, S and W relate to the external environment whereas O and T refer to the internal environment, i.e. the firm itself.
False
Page: p12
9. The concept of “Strategic fit” describes the match between a firm’s strategy, its external environment and its resources and capabilities.
True
Page: p13
10. Strategy has its origins in military strategy.
True
Page: p13
11. Strategy denotes the entire plan whereas a tactic refers to a scheme for a specific action.
True
Page: p14
12. Strategic decisions are important, involve a significant commitment of resources and are easily reversible.
False
Page: p14
13. Different...