Exam 1: The Concept of Strategy

Between the 1980sand 1990s the emphasis of strategic analysis shifted from:

In the large,complex firm,two main levels of strategy can be distinguished: corporate strategy and business (or competitive)strategy.

The applicability of the tools and techniques of strategy analysis to not-for-profit organizations is:

When describing the strategy of a firm,it is best to ignore the current positioning of the firm in order to concentrate upon the direction in which the firm will develop in the future.

The main reason for the transition from corporate planning to strategic management during the late 1970s and 1980s was:

For both individuals and businesses,successful strategies are characterized by:

According to Henry Mintzberg,firm strategy should be formulated by top management through rational deliberation utilizing all available data.

Strategy is a unifying theme that gives coherence and direction to the actions and decisions of an organization.

The reason that a firm's realized strategy diverges from its intended strategy is because strategy making is,to a great extent,an emergent process.

Strategy is a detailed plan that programs the actions of an organization or an individual.

Applying the tools of strategy analysis to not-for-profit organizations is simplified by the fact that they do not need to be concerned with maximizing profit.

Business strategy defines:

When a firm's external environment becomes more turbulent and unpredictable:

Strategic decisions are important,involve a significant commitment of resources,and should be easily reversible.

Strategy assists the quality of strategic decision making by:

The primary distinction between corporate strategy and business strategy is:

The principal similarity between business and military strategy is that:

When identifying a company's strategy,its statements of a strategy found in its public documents need to be:

The dynamic,future-oriented dimension of a firm's strategy is described by its mission and vision statements and its performance targets.

The balance between intended and emergent strategy depends primarily upon the stability and predictability of the organization's business environment.The more stable and predictable the environment,the greater the importance of emergent strategy.