Ch 5,6,9,11 Strategic Management

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Strategy formulation is the sum total of the activities and choices required for the execution of a strategic plan

FALSE

Poor implementation is often blamed for strategic failure

TRUE

ABC is an accounting method for allocating direct and fixed costs to individual products

FALSE

Behavior, output, and input controls are all interchangeable

FALSE

Durability is the rate at which a firm's underlying resources, capabilities can be duplicated by others.

FALSE

Evaluation and control information consists only of performance data

FALSE

SO strategics attempt to take advantage of opportunities by overcoming weaknesses

FALSE

SWOT analysis by itself is not a panacea for strategy

FALSE

SWOT is an acronym that stands for Strategy, Weaknesses, Opportunities, and Threats

FALSE

A core competency can be easily imitated to the extent that is transparent, transferable, and replicable

TRUE

ABC accounting allows accountants to charge costs more accurately than the traditional method because it allocates overhead far more precisely

TRUE

According to a survey of Fortune 500 firms, the most frequently cited problem with implementing a strategic change is that implementation took more time than originally planned

TRUE

After programs have been developed, the budget process begins

TRUE

An example of a cluster in the United States is computer technology found in the Silicon Valley

TRUE

Behavior controls specify how something is to be done through policies, rules, standard operating procedures, and orders from a superior

TRUE

Business strategy focuses on improving the competitive position of a company's or business unit's products or services within the specific industry or market segment that the company or business unit services

TRUE

Capabilities refer to a corporation's ability to exploit its resources

TRUE

Competencies are the organization's assets and are the basic building blocks of the organization

TRUE

Core competencies may mature and become core deficiencies

TRUE

General Electric is well known for its distinctive competency in management

TRUE

ISO 9000 Standard Series developed by the International Standards Association of Geneva, Switzerland, is an example of a behavior control

TRUE

If a mission does not provide a common thread for a corporation's businesses managers might be unclear about where the company is heading

TRUE

Many of the people in the organization who are crucial to successful strategy implementation probably have little to do with the development of the corporate and business strategy

TRUE

New product development would be a core competency if it goes beyond 1 division

TRUE

Niches can grow and change over time.

TRUE

One company that has successfully found a propitious niche is Frank J. Zamboni & Company, the manufacturer of the machines that smooth the ice at ice skating rinks.

TRUE

One example of a steering control used by retail stores is the inventory turnover ratio, which shows how hard an investment in inventory is working

TRUE

One of the obstacles to effective control is the difficulty in developing appropriate measures of important activities and outputs

TRUE

Performance is the end result of activity

TRUE

Standard operating procedures typically detail the various activities that must b carried out to complete a corporation's programs

TRUE

Strategy formulation and strategy implementation should be considered as two sides of the same coin

TRUE

The TOWS Matrix illustrates how the external opportunities and threats facing a particular corporation can be matched with that company's internal strengths and weaknesses to result in four sets of possible strategic alternatives

TRUE

The evaluation and control process ensures that the company is achieving what it set out to accomplish

TRUE

The first firm through a strategic window can occupy a propitious niche and discourage competition (if the firm has the required internal strengths)

TRUE

The goal is to find a propitious niche so well suited to the firm's internal and external environment that other corporations are not likely to challenge or dislodge

TRUE

The matrix of change was designed to help managers decide how quickly change should proceed in what order changes should take place, whether to start at a new site, and whether the proposed systems are stable and coherent.

TRUE

The purpose of a program or tactic is to make the strategy action-oriented

TRUE

The resources of an organization include tangible assets, human assets, and intangible assets

TRUE

The two characteristics that determine the sustainability of a firm's distinctive competency are durability and imitability.

TRUE

Those who implement strategy will probably be a much more diverse set of people than those formulate it

TRUE


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