Essay on test bank

5495 Words Jun 4th, 2014 22 Pages
Questions Chapter 01
The Concept of Strategy

True False Questions

Question title

Question stem

Choice

Difficulty
1 Easy
2 Medium
3 Hard

Reference link

Topic
TF01.01
Strategy is a detailed plan and a program of instructions that every member of the organization must carefully follow to ensure success
F
1
Introduction and objectives
Strategy definition
TF01.02
Strategy is a unifying theme and a general guideline
T
1
Introduction and objectives
Strategy definition
TF01.03
For most firms, luck appears to be the largest factor explaining whether they fail or succeed
F
2
The role of strategy in success
Strategy definition
TF01.04
Executing a good strategy well often determines the extent of a
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y definition
MC01.04
Strategic goals have to be: a- Simple b- Consistent c- Long term d- All of the above d 1
The role of strategy in success
Strategy definition
MC01.05
Appraising a firm’s resources consists of: a- Protecting the firm from its weaknesses and trying to reduce or eliminate them b- Leveraging the firm’s strengths to increase market share and profit c- Exploiting a firm’s internal strengths while protecting its weaknesses d- Completing 360-degree analytical evaluations of top managers’ strengths and weaknesses c 2
The role of strategy in success
Strategy definition

MC01.06 The success of an organization in general, seems related to the following variables: a- Being goal-focused b- Having a strong and in-depth knowledge of the rules of the game c- Knowing extremely well its own strengths and weaknesses d- All of the above plus the ability to implement strategy with commitment, consistency and determination d 2
The role of strategy in success
Strategy and performance
MC01.07
In 1999, Peter Drucker observed that: a- Most of the “high achievers” were rich before they started to build their success b- Planning and a careful description of the future are the keys for success c- We must know how to be the CEO of our own careers d- We must know our own personalities in depth to be successful

c
1
The role of analysis in strategy formulation

Strategy definition
MC01.08
The basic framework for strategy links: a- The

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