true/false questions below:

1. Quantitative data is generally considered more important than qualitative data when it comes to the development of a winning strategy that creates truly sustainable competitive advantage. True or False?
2. Strategy is a very complicated process. As such, it may be a prudent best practice to simply think as if one is in a vacuum when developing strategy. Such simplification, with an exclusive focus on the firms internal environment, can (and usually will) lead to a winning strategy. True or False?
3. A mission statement, like a value statement, is an important document to the overall strategy of the firm because once a document is voted on and approved by all levels of the organizations management, it must be comprehensive enough to guide the firm for a planning horizon of at least three to five years without any modification. True or False?
4. When it comes to establishing a strategy, a good senior manager will recognize the value of data and make sure he/she has perfect data before moving forward to finalize the firms strategy. True or False?
5. Proper corporate strategy always, by definition, starts with cost cutting. Revenue generation, by definition, should always come second because its typically much more difficult to do and requires innovation (which can be costly). True or False?
6. When it comes to key financial ratio in the setting of strategy, a CEO should always look first and foremost at Days of Inventory (or Periods of Supply as some firms call this metric) as the primary ratio of most import. It is the single most important financial ratio in any and all industries as we discussed in class. True or False?
7. Good strategy is designed to completely eliminate agency costs (in the context of how we discussed them in this course) to the firm. This should not happen overnight but should be achievable within a time horizon of one to two years. True or False?
8. Stretch goals, in the context we discussed, should be just hard enough such that they are not typically achieved which will save the firm precious finite capital. True or False?
9. It should be understood that a firm should never outsource its core competency. True or False?
10. why some firms would or would not enter a niche market as part of their overall strategy. The main negative facing a firm considering such a market is that, while the market is likely to be very large in total potential unit sales volume, the market is also very likely to offer very low profit margin potential and feature price sensitivity. True or False?
11. We talked about capital, and its finite nature, as it related to the firms overall strategic plan and in particular as it related to the firms Financial function. True or False?