1. Jamie Dimon’s comment, “I’d rather have first-rate execution and second-rate strategy anytime than brilliant ideas and mediocre management,” is an example of the widespread belief that strategy implementation is more important than strategy formulation. .
@ Pages and References: p141
*a. T
b. F

2. The comment, “Brilliant strategy; lousy implementation” reflects the fact that strategy formulation and strategy implementation are distinct, separable activities.
@ Pages and References: p142
a. T
*b. F
3. Operating plans and capital expenditure budgets are the key mechanisms through which strategy drives resource allocation.
@ Pages and References: pp146-147
*a. T
b. F

4. Firm and markets represent the two primary modes of economic organization in the capitalist economy.
@ Pages and References: pp148-149
*a. T
b. F

5. By the main organizational innovation of the first two decades of the 20th century was the emergence of the multidivisional corporation.
@ Pages and References: p148
*a. T
b. F

6. Corporations are not the dominant organizational form in all industries. In agriculture and professional services other forms of business enterprise dominate.
@ Pages and References: p148
*a. T
b. F

7. In general, “structure follows strategy.”
@ Pages and References: p143
a. T
*b. F

8. Firms primarily exist because of the efficiency benefits of specialization and division of labor.
@ Pages and References: p150
*a. T
b. F

9. Reaction against the constraints of hierarchical control meant that most business enterprises are no longer organized as hierarchies.
@ Pages and References: p153-154
a. T
*b. F

10. During the past two decades, the hierarchical structures of business enterprises have become more oriented towards control than integration. @ Pages and References: pp154-155
a. T
*b. F

11. The fundamental