Business Policy Mid-term Exam 2026/2027
– Questions & Answers | A+ Graded
Which of the following is NOT true about strategic audits? - correct answer-A.
Strategic audits are all inclusive lists. **CORRECT
B. Managers use strategic audits to implement selected strategies.
C.A strategic audit is used to analyze problem areas in the organization.
D.Managers use strategic audits to evaluate current performance results.
E. A strategic audit is used as a diagnostic tool to scan and assess the external
environment.
Which of the following terms is used by managers in the workforce today to
describe new products, services, methods, and organizational approaches that
allow the business to achieve extraordinary returns? - correct answer-A.Strategic
management
B.Globalization
C.Triple bottom line
D.Learning organization
E.Innovation *CORRECT
, All of the following statements are true about globalization EXCEPT ________. -
correct answer-A. the worldwide availability of the Internet and supply chain
logistical improvements permits companies to locate anywhere and work with
multiple partners to serve any market
B. globalization is the integrated internationalization of markets and corporations
C. globalization has not impacted the way businesses do business **CORRECT
D. as more industries become global, strategic management allows managers to
position a company for long-term competitive advantage
E. as more industries become global, strategic management is becoming an
increasingly important way to keep track of international developments
All of the following are components of strategy formulation EXCEPT ________. -
correct answer-A. crafting the corporate mission
B. defining the competitive advantages of the business strategy
C. monitoring performance results**CORRECT
D. setting policy guidelines
E. specifying specific objectives
The four basic elements of the strategic management process are ________. -
correct answer-A. environmental scanning, strengths, strategy implementation,
and evaluation and evolution
B. environmental scanning, weaknesses, physical resources, and evolution
C. environmental scanning, strategy formulation, strategy implementation, and
evaluation and control**CORRECT
D. environmental scanning, strategy formulation, strategy implementation, and
evolution
E. environmental scanning, strategy formulation, physical resources, and
evolution
– Questions & Answers | A+ Graded
Which of the following is NOT true about strategic audits? - correct answer-A.
Strategic audits are all inclusive lists. **CORRECT
B. Managers use strategic audits to implement selected strategies.
C.A strategic audit is used to analyze problem areas in the organization.
D.Managers use strategic audits to evaluate current performance results.
E. A strategic audit is used as a diagnostic tool to scan and assess the external
environment.
Which of the following terms is used by managers in the workforce today to
describe new products, services, methods, and organizational approaches that
allow the business to achieve extraordinary returns? - correct answer-A.Strategic
management
B.Globalization
C.Triple bottom line
D.Learning organization
E.Innovation *CORRECT
, All of the following statements are true about globalization EXCEPT ________. -
correct answer-A. the worldwide availability of the Internet and supply chain
logistical improvements permits companies to locate anywhere and work with
multiple partners to serve any market
B. globalization is the integrated internationalization of markets and corporations
C. globalization has not impacted the way businesses do business **CORRECT
D. as more industries become global, strategic management allows managers to
position a company for long-term competitive advantage
E. as more industries become global, strategic management is becoming an
increasingly important way to keep track of international developments
All of the following are components of strategy formulation EXCEPT ________. -
correct answer-A. crafting the corporate mission
B. defining the competitive advantages of the business strategy
C. monitoring performance results**CORRECT
D. setting policy guidelines
E. specifying specific objectives
The four basic elements of the strategic management process are ________. -
correct answer-A. environmental scanning, strengths, strategy implementation,
and evaluation and evolution
B. environmental scanning, weaknesses, physical resources, and evolution
C. environmental scanning, strategy formulation, strategy implementation, and
evaluation and control**CORRECT
D. environmental scanning, strategy formulation, strategy implementation, and
evolution
E. environmental scanning, strategy formulation, physical resources, and
evolution
