STRATEGIC MANAGEMENT AND BUSINESS
POLICY GLOBALIZATION ACTUAL TEST
PAPER WITH VERIFIED ANSWERS
●● What is competitive advantage?
Answer: Operating in ways that outperform competitors and are difficult
to duplicate.
●● What is sustainable competitive advantage?
Answer: A competitive advantage that competitors cannot easily imitate
for a period of time.
●● What is strategic intent?
Answer: A compelling goal that focuses organizational energy toward a
shared objective.
●● What is corporate strategy?
Answer: A strategy that sets direction for the entire organization and
determines what industries or markets it competes in.
●● What is business strategy?
Answer: A strategy that determines how a specific business unit or
product line will compete in a market.
, ●● What is functional strategy?
Answer: A strategy that guides activities within specific departments
such as marketing, finance, or operations.
●● What is a growth strategy?
Answer: A strategy focused on expanding current operations or entering
new markets.
●● What is concentration strategy?
Answer: Growth by expanding within an existing business area.
●● What is diversification strategy?
Answer: Growth by entering new business areas.
●● What is vertical integration?
Answer: Growth by acquiring suppliers or distributors.
●● What is retrenchment strategy?
Answer: A strategy used to correct weaknesses by changing operations.
●● What is restructuring?
POLICY GLOBALIZATION ACTUAL TEST
PAPER WITH VERIFIED ANSWERS
●● What is competitive advantage?
Answer: Operating in ways that outperform competitors and are difficult
to duplicate.
●● What is sustainable competitive advantage?
Answer: A competitive advantage that competitors cannot easily imitate
for a period of time.
●● What is strategic intent?
Answer: A compelling goal that focuses organizational energy toward a
shared objective.
●● What is corporate strategy?
Answer: A strategy that sets direction for the entire organization and
determines what industries or markets it competes in.
●● What is business strategy?
Answer: A strategy that determines how a specific business unit or
product line will compete in a market.
, ●● What is functional strategy?
Answer: A strategy that guides activities within specific departments
such as marketing, finance, or operations.
●● What is a growth strategy?
Answer: A strategy focused on expanding current operations or entering
new markets.
●● What is concentration strategy?
Answer: Growth by expanding within an existing business area.
●● What is diversification strategy?
Answer: Growth by entering new business areas.
●● What is vertical integration?
Answer: Growth by acquiring suppliers or distributors.
●● What is retrenchment strategy?
Answer: A strategy used to correct weaknesses by changing operations.
●● What is restructuring?
