Business Studies · Business Policy and Strategy
Which of the following most accurately differentiates strategy from policy?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Strategy defines long-term direction; policy provides a framework for routine decisions.✓
- 2Strategy is a routine plan; policy deals with long-term direction.
- 3Both are interchangeable terms in management.
- 4Policy is the means; strategy is the end.
Correct answer
Strategy defines long-term direction; policy provides a framework for routine decisions.
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