Business Policy and Strategic Management

Unit 1

1. Define the term strategy. Explain the steps involved in the strategic Management Process.
2. Distinguish between Business Policy and Strategic Management. What are the benefits of
strategic management for modern organizations?
3. Describe the term Business Ethics. What is the significance of ethics in the successful
implementation of strategy?
Unit 2
4. What is Vision, Mission and Objectives? Elaborate on the characteristics of a Mission
statement.
5. Explain various types of Integration strategies and their applicability.
6. What is meant by diversification? When organizations can prefer for diversification
strategy?
7. Explain in detail about Porters’ Generic strategy alternatives and their relevance.
Unit 3