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June 7, 2017

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Study Guide

Printed Version - $225

Online Access - $225

Business Policy

Business Policy examines how top management determines the direction of a firm by utilizing the strategy process. Topics include:
  • The meaning and implications of strategy
  • Those responsible for the strategy process (strategists)
  • An overview of the internal and external forces that impact the strategy process
  • Methods and importance of strategic formulation
  • Implementation and evaluation
Here are the topics covered and their importance on the test:
  • Overview of strategy and the strategist (10%)
    • Defining a mission, vision and crafting of strategy

  • Industry and competitive analysis (10%)

  • Evaluating company resources and competitive capabilities/advantages (25%)

  • International issues of strategy (5%)

  • Internal issues (15%)
    • Corporate culture
    • Designing effective systems and structures

  • Strategic formulation, implementation and evaluation (35%)
    • Tailoring strategy to organization type—diversified
    • Tailoring strategy to organization type – other types
The exam is three hours and consists of multiple-choice questions, short-answer questions, and essay questions.

Before taking this course, it is CRUCIAL that you already have passed the following college-level courses:
  • Accounting
  • Management
  • Marketing
These prerequisites contain the procedures you will use to fully analyze the cases in Business Policy. Other helpful courses are finance and production/operations management.

(Taken from “Business Policy,” Thomas Edison State College—Course Catalog, ©2006,

The required textbook(s) for the Traditional course are listed below.

  • Crafting and Executing Strategy: The Quest for Competitive Advantage Concepts and Cases   
      15th by Thompson, Arthur A., Jr. / Strickland, A.J., III - McGraw-Hill, 2007
    ISBN 978007-296943-6