Is the following statement True or False? Strategy is based on the assumption and hypotheses about how competition in an industry is at the present moment. True False The ultimate objective of the strategic management process is the realization of parity True False Which of the following are true regarding strategy? Strategy: (Select all that apply) Begins when a firm identifies its mission/short term purpose Is written in the form of a mission statement Defining objectives do not have to be measurable to evaluate whether they have been accomplished External and internal analysis are necessary to define threats/opportunities, strengths/weaknesses. Two most popular measures are economic performance and accounting performance, Which of the following statements is true regarding a firm's mission? The mission of the company is only defined by the strategic implementation part of the strategic management process. During the SMP, the mission of a company is always defined last A company's mission is its short-term purpose that defines both what it aspires to be in the short run and what it wants to avoid in the meantime, A mission is a company's long-term purpose. It defines both what the company aspires to be in the long term and what the company wants to avoid in the meantime