Quiz Chapter 1 (1 of 11)
Despite its great popularity in the 1980s, strategic planning by corporate America is now a valuable though rare activity.
False
Management by intuition can be defined as operating from the "I've-already-made-up-my-mind-don't-bother-me-with-the-facts mode."
False
Managers must be very formal in strategic planning in order to foster flexibility and creativity.
False
Once a firm acquires a competitive advantage, it is usually able to sustain it indefinitely.
False
The best approach for strategists is to carefully develop strategic plans themselves and then present them to operating managers to execute.
False
The most effective strategic management is ritualistic, predictable, and formal.
False
Analytical and intuitive thinking complement each other.
True
Firms, like organisms, must be "adept at adapting" or they will not survive.
True
Making many intuitive decisions that conflict with the formal plan is a pitfall in strategic planning.
True
Strategists are usually found in higher levels of management and have considerable authority for decision-making in the firm.
True