Final answer:
The statement is false. The strategy involves the overall direction and scope of an organization over the long term, affecting all levels, not just top management.
Step-by-step explanation:
False. Strategy is not limited to activities at the top level of the organization but rather encompasses the overall direction and scope of an organization over the long term. While it is true that strategic decisions are typically made by senior management, the effects and implementation of these decisions permeate through all levels of the organization. Strategy involves setting goals, determining the most advantageous course of action to achieve these goals, and allocating resources to execute the plans. An effective strategy takes into account the actions and reactions of competitors, the evolving needs of customers, and the strengths and weaknesses of the organization. Therefore, strategy is integral to all levels, as it guides the organization toward its objectives and shapes the decision-making process across various departments and functions.