Discussion
The policies evolved by an organization for growth and management is termed as ..........................
Answer: C
Such policies are termed corporate strategy.
Corporate strategy is set at the top of the organisation and decides the overall direction of the firm: which businesses to be in, how to grow (by expansion, diversification, acquisition) or retrench, and how to manage the portfolio as a whole.
Business strategy deals with how one business unit competes in its market, for example by cost leadership or differentiation. Functional strategy guides individual departments such as marketing or finance. Innovative strategy is a type of approach, not the level at which growth policy is set.
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