It serves as guide for decision-making and action.

• Strategic Management

• Business Policies

• Strategy

• Tactics

The following are the three vantage points of strategy except:

• Strategy formulation

• Strategy implementation

• Strategic controlling

• Strategic labelling

Realized strategy is the product of intended and emerging strategy which is identified as the actual strategy implemented by management

• TRUE

• FALSE

The following are the characteristics of strategy except:

• A grand plan made in anticipation of business competition

• Relevant in the context of business completion

• Involves a limited program of action and allocation of resources

• Decision on organization objectives, resource usage, and allocation

Conflicts between policies and strategies can create organizational success.

• TRUE

• FALSE

Strategy and policy often clash, making it easier to implement a strategy within the boundaries of existing policy.

• TRUE

• FALSE

Business policies are operational in nature while strategies are generally directional.

• TRUE

• FALSE

________ is the origin of the term strategy.

Business policy emerged from the concept of strategic management.

• TRUE

• FALSE

Integrating strategy into the management system is crucial for delivering ________________ expectation.