Exam 1: The Concept of Stategy

Company law throughout the developed, industrialized world including Asia and Europe obliges firms to solely focus on profit for shareholders.

The success of an organization, in general, depends on the following:

A contemporary phenomenon is known as "winner-take-all markets". This concept is exemplified by

The textbook limits attention to

Corporate and business strategy differ mainly in that

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

In the military field, we generally make the following distinction between strategy and tactics:

In the 1970s and 1980s, strategy evolved to be viewed more in terms of competition, competitive advantage, market share, and profit.

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.

By the 1990s, thinking on strategy had shifted to

The role of strategy today is claimed to be

The essential purpose of a commercial firm can be seen as creating value for customers, and then to appropriate a portion of this value for the firm.

Two basic questions concerning corporate and business strategy are:

The notion of "strategic fit"

In addition to just reading published information, to identify a firm's strategy you could

Strategy is fundamentally about

The difference between intended and realized strategy is

Modern strategy applied to the business world shares with military strategy

A good starting point to identify a large firm's strategy is

Select the best answer. Success is fundamentally linked to