Final answer:
The statement that developing a grand strategy requires data gathering and projections using tools like competitive intelligence, SWOT analysis, forecasting, benchmarking, and Porter's five competitive forces is true. Each tool provides critical insights into market dynamics and competition necessary for strategic planning.
Step-by-step explanation:
The statement is True. To develop a grand strategy, it is indeed essential to gather data and make projections using various tools. These tools include competitive intelligence, which involves understanding your competition's capabilities and strategies; SWOT analysis (Strengths, Weaknesses, Opportunities, Threats), which helps to understand internal and external factors that could affect your goals; forecasting, which involves making predictions about future trends and market dynamics; benchmarking, which is the process of comparing your organization's practices with those of others to identify best practices; and Porter's five competitive forces, which helps to understand the competitive environment in which a company operates. Each of these tools plays a crucial role in informing strategic decisions and helping to craft an effective strategy that takes into account various market and competitive factors.