Exam 1: The Concept of Strategy

Strategy is fundamentally about:

In regard to strategy making, most firms are likely to exhibit:

The concept of "Strategic fit" describes the gap or fit between the environment and a firm's strategy

Strategy is a detailed plan and a program of instructions that every member of the organization must carefully follow to ensure success

The link between performance and strategy is:

Concepts, theories, and analytical tools are:

The book that is considered as the first treatise on strategy is:

Strategy can be summarized as:

In a large US steel firm, the corporate planning process in 1965 could be described as:

What are the similarities and differences between strategy in the business world and in the military arena?

The two questions of "where and how to compete" define:

Business strategy is linked with the following concepts or attributes:

The basic framework for strategy links:

In 1971Kenneth Andrews said a strategy should define:

The conceptual problem with using SWOT analyses is that most people ignore deep analysis of internal factors and underestimate their own weaknesses

The role of business strategy can be described as the selection of resources a firm chooses to achieve its long-term goals and the way it organizes those resources into activities

Strategy denotes the entire plan whereas a tactic refers to a scheme for specific actions

Strategy can be defined as the means by which individuals or organizations achieve their objectives

The shift from Planning to Strategy-making implied:

Different perspectives in strategy have existed since the 1950s; each of them emphasized a particular aspect of strategy