Business policy strategy

Business policy strategy
Answer any 5 of the following questions: Each question carries 12 marks.
1. In your opinion, what is the single major benefit of using a strategic-management approach to decision making? Justify your answer.

2. Explain why a mission statement should not include monetary amounts, numbers,
Percentages, ratios, goals, or objectives.

3. Identify a recent economic, social, political, or technological trend that significantly affects the organization of your choice.

4. Give two examples of staffing strengths and two examples of staffing weaknesses of an
organization with which you are familiar.

5. Give recent examples of market penetration, market development, and product development and explain their strategies in detail.
6. In a BCG Matrix, would the Question Mark quadrant or the Cash Cow quadrant be more
desirable? Explain. List four limitations of a BCG Matrix.

7. If you owned and opened three restaurants after you graduated, would you operate from
a functional or divisional structure? Why?

8. If you owned a small business, would you develop a code of business conduct? If yes, what variables would you include? If no, how would you ensure that ethical business standards were being followed by your employees?