Test Bank For Contemporary Strategy Analysis Text And Cases 8th Edition By Robert M. Grant

Test Bank For Contemporary Strategy Analysis Text And Cases 8th Edition By Robert M. Grant

Chapter 1

The Concept of Strategy

True or False Questions

1. Strategy is a detailed plan and set of instructions that programs the actions of an organization.

@ Pages and References: p4

1. T

*b. F

2. Strategy is a unifying theme that gives coherence and direction to the actions and decisions of an organization.

@ Pages and References: p4

*a. T

1. F

3. The career success of both Queen Elizabeth II and Lady Gaga may be attributed mainly to the influences of luck and superior resources

@ Pages and References: p5

1. T

*b. F

4. If a firm can devise a brilliant strategy, it will be successful irrespective of how effectively it is implemented.

@ Pages and References: p5

1. T

*b. F

5. A key component of an effective strategy is clear, consistent, long-term goals.

@ Pages and References: p10

*a. T

1. F

6. A major problem of using SWOT analyses in distinguishing strengths form weaknesses and opportunities from threats.

@ Pages and References: p11

*a. T

1. F

7. The concept of “Strategic fit” describes the gap or fit between the environment and a firm’s strategy.

@ Pages and References: p13

*a. T

1. F

8. Contingency theory postulates that a firm’s strategy must to flexible in order to meet any possible contingency.

@ Pages and References: p11.

1. T

*b. F

9. Business strategy has intellectual origins in military strategy.

@ Pages and References: p12

*a. T

1. F

10. Strategy denotes the entire plan whereas a tactic refers to a scheme for specific actions.

@ Pages and References: p12

*a. T

1. F