TEST BANK FOR: Solution Manual For Contemporary Strategy Analysis, 10th Edition Robert M. Grant Latest Update.

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TEST BANK FOR:
10th Edition Robert M. Grant
Latest Update.

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CONTEMPORARY STRATEGY ANALYSIS 10E

TEST BANK: CHAPTER 1
THE CONCEPT OF STRATEGY

TRUE OR FALSE QUESTIONS

1. 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

2. THE SUCCESSFUL CAREERS OF BOTH QUEEN ELIZABETH II AND LADY GAGA MAY
BE ATTRIBUTED TO THEIR COMMITMENT TO SYSTEMATIC STRATEGIC PLANNING
[SEE P.5]
a. T
b. F*

3. A KEY COMPONENT OF AN EFFECTIVE STRATEGY IS CLEAR,
CONSISTENT, LONG-TERM GOALS. [SEE PP.5-6]
*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 MAJOR PROBLEM OF USING SWOT ANALYSES IN DISTINGUISHING STRENGTHS
FROM WEAKNESSES AND OPPORTUNITIES FROM THREATS.
[SEE P.10]
*A. T
B. F

6. “STRATEGIC FIT” REFERS 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

7. CONTINGENCY THEORY POSTULATES THAT A FIRM’S STRATEGY MUST TO FLEXIBLE IN
ORDER TO MEET ANY POSSIBLE CONTINGENCY.
[SEE PP.10-11]
A. T
*B. F

8. STRATEGY DENOTES AN OVERALL PLAN WHEREAS A TACTIC IS A
SCHEME FOR A SPECIFIC ACTION. [SEE P.11]
*A. T
B. F

9. THE PRINCIPLES OF MILITARY STRATEGY ARE RARELY APPLICABLE
TO BUSINESS SITUATIONS. [SEE PP.11-12]
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A. T
*B. F


10. STRATEGIC DECISIONS ARE IMPORTANT, INVOLVE A SIGNIFICANT COMMITMENT OF
RESOURCES, AND SHOULD BE EASILY REVERSIBLE.
[SEE P.11]
A. T
*B. F

11. GAME THEORY IS A USEFUL FOR STUDYING COMPETITIVE BEHAVIOR IN POLITICS,
MILITARY CAMPAIGNS AND INTERNATIONAL RELATIONS, BUT IT CANNOT BE USED TO
ANALYZE BUSINESS STRATEGIES.
[SEE P.12]
A. T
*B. F

12. THE MAIN FACTOR CAUSING THE TRANSITION FROM CORPORATE PLANNING TO
STRATEGIC MANAGEMENT WAS THE INCREASING INABILITY OF COMPANIES TO
FORECAST ECONOMIC CONDITIONS FOUR OR FIVE YEARS INTO THE FUTURE. [SEE P.12]
*A. T
B. F

13. STRATEGY IS A DETAILED PLAN THAT PROGRAMS THE ACTIONS OF AN
ORGANIZATION OR AN INDIVIDUAL. [SEE PP.14-15]
A. T
*B. F

14. STRATEGIC CHOICES INVOLVE TWO BASIC QUESTIONS: WHERE
AND HOW TO COMPETE? [SEE P.18]
*A. T
B. F

15. IN THE LARGE, COMPLEX FIRM, TWO MAIN LEVELS OF STRATEGY CAN BE
DISTINGUISHED: CORPORATE STRATEGY AND BUSINESS (OR COMPETITIVE) STRATEGY.
[SEE PP.18-19]
*A. T
B. F

16. WHEN DESCRIBING THE STRATEGY OF A FIRM, IT IS BEST TO IGNORE THE CURRENT
POSITIONING OF THE FIRM IN ORDER TO CONCENTRATE UPON THE DIRECTION IN WHICH THE
FIRM WILL DEVELOP IN THE FUTURE.
[SEE PP.19-20]
A. T
*B. F

17. THE REASON THAT A FIRM’S REALIZED STRATEGY DIVERGES FROM ITS INTENDED
STRATEGY IS BECAUSE STRATEGY MAKING IS, TO A GREAT EXTENT, AN EMERGENT
PROCESS.
[SEE PP.20-21]
*A. T
B. F

18. ACCORDING TO HENRY MINTZBERG, FIRM STRATEGY SHOULD BE FORMULATED BY TOP
MANAGEMENT THROUGH RATIONAL DELIBERATION UTILIZING ALL AVAILABLE DATA.
[SEE P.21]
A. T
*B. F


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19. THE DYNAMIC, FUTURE-ORIENTED DIMENSION OF A FIRM’S
STRATEGY IS DESCRIBED BY ITS MISSION AND VISION STATEMENTS
AND ITS PERFORMANCE TARGETS.




© 2019 John Wiley & Sons, Inc. 3