Test Bank For Foundations of Strategy By Robert M.Grant

Test Bank For Foundations of Strategy By Robert M.Grant

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Test Bank For Foundations of Strategy By Robert M.Grant

Chapter 1

The Concept of Strategy

  1. Strategy today is essentially a detailed plan which every member of the organization must follow to ensure success.

@Pages and References: Page 2

  1. T

*b. F

  1. Strategy is in essence a long-term plan for an organisation to achieve its long-term objectives.

@Pages and References: Page 2

*a. T

  1. F
  2. For most firms, although good luck may play a part, success is more likely to be a result of a soundly grounded and well executed strategy.

@Pages and References: Pages 10-12

*a. T

  1. F
  2. Sound strategy and implementation largely determine the probability and extent of the success of a firm.

@Pages and References: Pages 10-12

*a. T

  1. F
  2. A sound strategy relies on four factors: simple and consistent goals; sound understanding of the competitive environment; objective appraisal of resources; and effective implementation of strategic decisions.

@Pages and References: Pages 10-12

  1. T

*b. F

  1. Usually, business success has been proved to rely in the end on superior resources.

@Pages and References: Pages 10-12

  1. T

*b. F

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