mgt 3830 ch 1-2-3-4-7-8

1. Strategy today is essentially a detailed plan which every member of the organization must follow to ensure success.
@Pages and References: Page 2
a. T
*b. F

2. Strategy is in essence a long-term plan for an organisation to achieve its long-term objectives.
@Pages and References: Page 2
*a. T
b. F

3. For most firms, although good luck may play a part, success is more likely to be a result of a soundly grounded and well executed strategy.
@Pages and References: Pages 10-12
*a. T
b. F

4. Sound strategy and implementation largely determine the probability and extent of the success of a firm.
@Pages and References: Pages 10-12
*a. T
b. F

5. A sound strategy relies on four factors: simple and consistent goals; sound understanding of the competitive environment; objective appraisal of resources; and effective implementation of strategic decisions.
@Pages and References: Pages 10-12
a. T
*b. F

6. Usually, business success has been proved to rely in the end on superior resources.
@Pages and References: Pages 10-12
a. T
*b. F

7. From the military arena, tactics are about actions and techniques for winning battles, whereas strategy is about winning the war.
@Pages and References: Pages 12-16
*a. T
b. F

8. Strategic decisions are likely to significantly affect the organisation as a whole and involve major resource commitment.
@Pages and References: Pages 12-16
*a. T
b. F

9. Business strategy has largely evolved from the theories put forward by academics.
@Pages and References: Pages 13-16
a. T
*b. F

10. Strategy in the 1950's and 1960's was dominated by top-down corporate planning and so-called scientific management.
@Pages and References: Pages 13-16
*a. T
b. F

11. In the 1970's and 1980's, strategy evolved to be viewed more in terms of competition, competitive advantage, market share and profit.
@Pages and References: Pages 13-16
*a. T
b. F

12. Strategy today has been forced to evolve to cope with an increasingly fast-paced and volatile environment, making