Strategic Management and
Business Policy Mid-Term 2026
Exam All Answers and
Illustrations Given
Innovation - 🧠 ANSWER ✔✔is meant to describe new products, services,
methods and organizational approaches that all the business to achieve
extraordinary results.
European Union (EU:) - 🧠 ANSWER ✔✔is the most significant trade
associate in the world.
,-27 member countries make up the EU.
-Goal: complete economic integration of all 27 member nations
NAFTA - 🧠 ANSWER ✔✔GOAL: Improve trade among the three member
countries rather than complete economic integration.
-launched in1994.
Sustainability - 🧠 ANSWER ✔✔refers to the use of business practices to
manage the triple bottom line as was discussed earlier.
The triple bottom line involves: - 🧠 ANSWER ✔✔1. the management of
traditional profit/loss.
2.the management of the companies social responsibilities, and;
3. the management of its environmental responsibility.
organizational learning theory - 🧠 ANSWER ✔✔which says that an
organization adjusts defensively to a changing environment and uses
knowledge offensively to improve the fit between itself and its environment.
,Basic Elements of the Strategic Management Process - 🧠 ANSWER ✔✔-
Environmental Scanning
-Strategy formulation
-strategy implantation
-Evaluation and control
Strategy Formulation - 🧠 ANSWER ✔✔is the process of investigation,
analysis, and decision making that provides the company with the criteria
for attaining a competitive advantage.
Mission - 🧠 ANSWER ✔✔is the propose or reason for the organization's
existence.
Vision - 🧠 ANSWER ✔✔describes what the organization would like to
become. (future view)
Objectives - 🧠 ANSWER ✔✔are the end results of planned activity.
Strategy - 🧠 ANSWER ✔✔of a corportation forms a comprehensive master
approach that states how the
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Corporate Strategy - 🧠 ANSWER ✔✔describes a company's overall
direction in terms of its general attitude towards growth and management of
its various businesses and product lines.
-3 Main Categories:
1. stability
2. growth
3. retrenchment
Business strategy - 🧠 ANSWER ✔✔usually occurs at the business unit or
product level and it emphasizes improvement of the competitive position of
a corporations products or services in the specific industry or market
segment.
Functional strategy - 🧠 ANSWER ✔✔is the approach taken by a functional
area to achieve corporate and business unit objectives and strategies by
maximizing resources productively.
Business Policy Mid-Term 2026
Exam All Answers and
Illustrations Given
Innovation - 🧠 ANSWER ✔✔is meant to describe new products, services,
methods and organizational approaches that all the business to achieve
extraordinary results.
European Union (EU:) - 🧠 ANSWER ✔✔is the most significant trade
associate in the world.
,-27 member countries make up the EU.
-Goal: complete economic integration of all 27 member nations
NAFTA - 🧠 ANSWER ✔✔GOAL: Improve trade among the three member
countries rather than complete economic integration.
-launched in1994.
Sustainability - 🧠 ANSWER ✔✔refers to the use of business practices to
manage the triple bottom line as was discussed earlier.
The triple bottom line involves: - 🧠 ANSWER ✔✔1. the management of
traditional profit/loss.
2.the management of the companies social responsibilities, and;
3. the management of its environmental responsibility.
organizational learning theory - 🧠 ANSWER ✔✔which says that an
organization adjusts defensively to a changing environment and uses
knowledge offensively to improve the fit between itself and its environment.
,Basic Elements of the Strategic Management Process - 🧠 ANSWER ✔✔-
Environmental Scanning
-Strategy formulation
-strategy implantation
-Evaluation and control
Strategy Formulation - 🧠 ANSWER ✔✔is the process of investigation,
analysis, and decision making that provides the company with the criteria
for attaining a competitive advantage.
Mission - 🧠 ANSWER ✔✔is the propose or reason for the organization's
existence.
Vision - 🧠 ANSWER ✔✔describes what the organization would like to
become. (future view)
Objectives - 🧠 ANSWER ✔✔are the end results of planned activity.
Strategy - 🧠 ANSWER ✔✔of a corportation forms a comprehensive master
approach that states how the
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Corporate Strategy - 🧠 ANSWER ✔✔describes a company's overall
direction in terms of its general attitude towards growth and management of
its various businesses and product lines.
-3 Main Categories:
1. stability
2. growth
3. retrenchment
Business strategy - 🧠 ANSWER ✔✔usually occurs at the business unit or
product level and it emphasizes improvement of the competitive position of
a corporations products or services in the specific industry or market
segment.
Functional strategy - 🧠 ANSWER ✔✔is the approach taken by a functional
area to achieve corporate and business unit objectives and strategies by
maximizing resources productively.
