True or False
1. Strategy is a detailed plan that programs the actions of an organization or an individual.
[See pp.15-16]
a. T
b. F*
2. Strategy is a unifying theme that gives coherence and direction to the actions and decisions of an organization.
[See p.4]
a. T*
b. F
3. The career success of both Queen Elizabeth II and Lady Gaga may be attributed to their willingness to engage in
systematic strategic planning
[See pp.4-5]
a. T
b. F*
4. If a firm can devise a brilliant strategy, it will be successful irrespective of how effectively it is implemented.
[See p.5]
a. T
b. F*
5. A key component of an effective strategy is clear, consistent, long-term goals.
[See p.5]
a. T*
b. F
6. A major problem of using SWOT analyses in distinguishing strengths from weaknesses and opportunities from
threats.
[See p.11]
a. T*
, b. F
7. “Strategic fit” related to the consistency between a firm’s strategy and, on one hand, its external environment and,
on the other, its internal resources and capabilities.
[See p.10]
a. T*
b. F
8. Contingency theory postulates that a firm’s strategy must to flexible in order to meet any possible contingency.
[See p.11]
a. T
b. F*
9. Many of the concepts and theories of business strategy have their origins in military strategy.
[See p12]
a. T*
b. F
10. Strategy denotes an overall plan whereas a tactic is a scheme for a specific action.
[See p.12]
a. T*
b. F
11. Strategic decisions are important, involve a significant commitment of resources, and should be easily reversible.
[See p.12]
a. T
b. F*
12. The main factor causing the transition from corporate planning to strategic management was the influence of
business school academics such as Michael Porter at Harvard Business School.
[See p.13]
1. Strategy is a detailed plan that programs the actions of an organization or an individual.
[See pp.15-16]
a. T
b. F*
2. Strategy is a unifying theme that gives coherence and direction to the actions and decisions of an organization.
[See p.4]
a. T*
b. F
3. The career success of both Queen Elizabeth II and Lady Gaga may be attributed to their willingness to engage in
systematic strategic planning
[See pp.4-5]
a. T
b. F*
4. If a firm can devise a brilliant strategy, it will be successful irrespective of how effectively it is implemented.
[See p.5]
a. T
b. F*
5. A key component of an effective strategy is clear, consistent, long-term goals.
[See p.5]
a. T*
b. F
6. A major problem of using SWOT analyses in distinguishing strengths from weaknesses and opportunities from
threats.
[See p.11]
a. T*
, b. F
7. “Strategic fit” related to the consistency between a firm’s strategy and, on one hand, its external environment and,
on the other, its internal resources and capabilities.
[See p.10]
a. T*
b. F
8. Contingency theory postulates that a firm’s strategy must to flexible in order to meet any possible contingency.
[See p.11]
a. T
b. F*
9. Many of the concepts and theories of business strategy have their origins in military strategy.
[See p12]
a. T*
b. F
10. Strategy denotes an overall plan whereas a tactic is a scheme for a specific action.
[See p.12]
a. T*
b. F
11. Strategic decisions are important, involve a significant commitment of resources, and should be easily reversible.
[See p.12]
a. T
b. F*
12. The main factor causing the transition from corporate planning to strategic management was the influence of
business school academics such as Michael Porter at Harvard Business School.
[See p.13]
