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Testbank Strategic Management Chapter 1 PART VI: TEST ITEM FILECHAPTER 1The Nature of Strategic ManagementTrue/FalseIntroductionThe underpinnings of strategic management hinge on managers gaining an understanding of competitors, markets, prices, suppliers, distributors, governments, creditors, shareholders and customers worldwide.(t; easy; p. 4)What Is Strategic Management?Optimizing for tomorrow the trends of today is the purpose of strategic management. (f;.