Questions Chapter 01
The Concept of Strategy
True False Questions
Question Question stem Choice Difficult Re
title y
1 Easy
2
Medium
3 Hard
TF01.01 Strategy is a detailed plan and a program of instructions that every F 1 Intr
member of the organization must carefully follow to ensure success
TF01.02 Strategy is a unifying theme and a general guideline T 1 Intr
TF01.03 For most firms, luck appears to be the largest factor explaining whether F 2 The r
they fail or succeed i
TF01.04 Executing a good strategy well often determines the extent of a firm’s T 1 The r
success i
TF01.05 A sound strategy requires four components: simple, short term goals; deep F 2 The r
understanding of competitive environment; objective appraisal of i
resources; and effective implementation of the strategy
TF01.06 The basic strategy framework links a firm to its owners – the shareholders F 1
fra
stra
TF01.07 The role of business strategy can be described as the selection of T 2
resources a firm chooses to achieve its long-term goals and the way it mana
organizes those resources into activities
C
bus
,TF01.08 The conceptual problem with using SWOT analyses is that most people F 3 Ab
ignore deep analysis of internal factors and underestimate their own busi
weaknesses
Fr
plann
m
,TF01.09 The concept of “Strategic fit” describes the gap or fit between the T 1
environment and a firm’s strategy fra
stra
TF01.10 Business strategy has intellectual origins in military strategy T 1 Ab
busi
Orig
a
TF01.11 Strategy denotes the entire plan whereas a tactic refers to a scheme for T 2 Ab
specific actions busi
Orig
a
TF01.12 Strategic decisions are important, involve a significant commitment of F 2 Ab
resources and should be easily reversible busi
Orig
a
TF01.13 Different perspectives in strategy have existed since the 1950s; each of T 2 Ab
them emphasized a particular aspect of strategy busi
Fr
plann
m
TF01.14 Strategy can be defined as the means by which individuals or T 2
organizations achieve their objectives mana
Wh
TF01.15 Strategy answers two basic questions: where and how to compete? T 2
mana
Wh
TF01.16 Two main levels of strategy can be distinguished: the corporate strategy T 1
level and the business (or competitive) strategy level mana
C
bus
TF01.17 A firm’s strategy includes different components used to articulate and T 2
communicate common goals, means and values, such as vision, mission, mana
business model, and strategic plans
I
com
,
The Concept of Strategy
True False Questions
Question Question stem Choice Difficult Re
title y
1 Easy
2
Medium
3 Hard
TF01.01 Strategy is a detailed plan and a program of instructions that every F 1 Intr
member of the organization must carefully follow to ensure success
TF01.02 Strategy is a unifying theme and a general guideline T 1 Intr
TF01.03 For most firms, luck appears to be the largest factor explaining whether F 2 The r
they fail or succeed i
TF01.04 Executing a good strategy well often determines the extent of a firm’s T 1 The r
success i
TF01.05 A sound strategy requires four components: simple, short term goals; deep F 2 The r
understanding of competitive environment; objective appraisal of i
resources; and effective implementation of the strategy
TF01.06 The basic strategy framework links a firm to its owners – the shareholders F 1
fra
stra
TF01.07 The role of business strategy can be described as the selection of T 2
resources a firm chooses to achieve its long-term goals and the way it mana
organizes those resources into activities
C
bus
,TF01.08 The conceptual problem with using SWOT analyses is that most people F 3 Ab
ignore deep analysis of internal factors and underestimate their own busi
weaknesses
Fr
plann
m
,TF01.09 The concept of “Strategic fit” describes the gap or fit between the T 1
environment and a firm’s strategy fra
stra
TF01.10 Business strategy has intellectual origins in military strategy T 1 Ab
busi
Orig
a
TF01.11 Strategy denotes the entire plan whereas a tactic refers to a scheme for T 2 Ab
specific actions busi
Orig
a
TF01.12 Strategic decisions are important, involve a significant commitment of F 2 Ab
resources and should be easily reversible busi
Orig
a
TF01.13 Different perspectives in strategy have existed since the 1950s; each of T 2 Ab
them emphasized a particular aspect of strategy busi
Fr
plann
m
TF01.14 Strategy can be defined as the means by which individuals or T 2
organizations achieve their objectives mana
Wh
TF01.15 Strategy answers two basic questions: where and how to compete? T 2
mana
Wh
TF01.16 Two main levels of strategy can be distinguished: the corporate strategy T 1
level and the business (or competitive) strategy level mana
C
bus
TF01.17 A firm’s strategy includes different components used to articulate and T 2
communicate common goals, means and values, such as vision, mission, mana
business model, and strategic plans
I
com
,
