Capstone T/F Ch. 1
Executives who make assumptions about what an adversary can and cannot do put their organizations' performance in jeopardy.
TRUE
Firms must evaluate their own resources to understand how they might react to changes in the environment.
TRUE
Intended strategies are usually described in detail within an organization's strategic plan.
TRUE
One important aspect of a business model is providing customers with a good or service more cheaply than they can create it themselves.
TRUE
Realized strategies are a product of a firm's intended strategy, the firm's deliberate strategy, and its emergent strategy.
TRUE
Sometimes good strategies simply cannot overcome a stronger adversary.
TRUE
Strategic management is a process that involves building a careful understanding of how changes in the world might affect a particular firm.
TRUE
Strategic ploys can be especially beneficial when facing much stronger opponents.
TRUE
Strategy formulation involves developing specific strategies and actions.
TRUE
Strategy implementation entails crafting an effective organizational structure and corporate culture.
TRUE
Strategy is a complex concept that involves many different processes and activities within an organization.
TRUE
The book, "The Principles of Scientific Management," was a response to Taylor's observation that most tasks within organizations were organized in a haphazard way.
TRUE
The history of strategic management can be traced back several thousand years.
TRUE
The idea of "stratego," from which the word strategy is derived, refers to the idea of defeating an enemy by effectively using resources.
TRUE
The study of strategic management involves knowing how and when to apply creative thinking.
TRUE
Unexpected twists and turns in the external as well as the internal environment place limits on the value of strategic planning.
TRUE
A firm is bound to fail if it maintains flexibility in formulating strategies.
FALSE
Most strategic ploys are illegal.
FALSE
Strategic management involves a single conceptualization of the concept of strategy drawn from recent history.
FALSE
Strategic management is neither an art nor a science.
FALSE
Strategic plans are irrelevant for individuals.
FALSE
Strategy as plan considers the actions of the firm as well as its competitors.
FALSE
Strategy is more about a plan and less about making adjustments to a shifting situation.
FALSE
The demands of strategic management are simple enough to be handled alone by the chief executive officer.
FALSE
There is only one single established method of conceptualizing the concept of strategy.
FALSE
Trends and events of the external environment seldom affect the overall state of an organization.
FALSE
Viewing strategy as position involves only the actions of a single firm.
FALSE
Developing a viable business model requires that a firm sell goods or services for more than it costs the firm to create and distribute those goods.
TRUE