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

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