businesspolicy.ppt
TRANSCRIPT
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Business PolicyBusiness Policy
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Business PolicyBusiness Policy
A Policy is a Statement, verbal, written or Implied, ofthose principles and rules that are set by ManagerialLeadership as guidelines & constraints for theorganizations houghts and actions
he purpose of the policy is to enable the managementto relate properly the organization!s wor" to itsob#ectives
he e$istence of practical and comprehensive policiestends to increase efficiency
%ecisions made within a policy framewor" have ahigher probability of being synchronized with otherdecisions within the company
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Business PolicyBusiness Policy
efers to decisions about future of an enterprise
'uiding (ramewor" for repetitive decisions
op Management to Lower Management
Involvement
Setting Long)erm ob#ectives of an enterprise
Study of functions & responsibilities of senior
management concerning crucial problems
It Provides direction to the organization and
shape of future
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Business PolicyBusiness Policy
Policies are set at different levels of Managementconcerning different responsibilities*
%ividend Policy* +oard of %irectors
apital Allocation for -$pansion* op Management
evenue Matters. Sales Administration/ Middle
Management
outine Actions* Lower Management
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Characteristics of BusinessCharacteristics of Business
PolicyPolicy
Policy refers to total enterprise or a large
segment of it I0e change in organizational goals
Long erm perspective & commitment
1sage of critical resources vis)2)vis environment
ontinuous process in nature
Identification of opportunities & choosing theright strategy
Adaptation to the hanging -nvironment
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Business Policy as a Field ofBusiness Policy as a Field of
StudyStudyIt gives an Integrated view of management
based "nowledge & e$perience
omple$ities of business & its constraints wrt
environment+roader perspective of Management Learning
Study of op Mgmt0 & esponsibilities &
decision ma"ing process
onceptualization of 3ey +usiness processes
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Business Policy as a Field of StudyBusiness Policy as a Field of Study
A preparation for performance as a 'eneral manager and
broadening of perspective of specialist
1nderstanding & Implementation of SM Process
4b#ectives in Attitudes*5 'eneralist rather Specialist
5 6iew of Practitioner
5 4rientation of Professional +usinessman
5 More 6alue to reativity & Innovation than to maintenance of
Status 7uo
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Business Policy as a Field of StudyBusiness Policy as a Field of Study
4b#ectives in 3nowledge*
5 3nowledge of concepts
5 3nowledge of situations
4b#ectives in S"ills*
5 Analytical Ability
5 Strategic Analysis Ability
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StrategyStrategy
Strategy is defining & achieving an organization8s
ob#ectives & implementing its missions
Large scale, future oriented plans for interacting with
competitive environment to optimize achievement of an
organization!s ob#ectivesPattern of an organization8s responses to its environment
over time
Long erm ob#ectives or Purposes of an organization
%ifferent from 4perating decisions I0e day to day related
activities
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Strategic ManagementStrategic Management
Set of decisions & actions resulting informulation & implementation of strategies
designed to achieve the ob#ectives
e7uirement due to comple$ity &sophistication of +usiness decision Ma"ing
process
-ffective dealing with environmentalchallenges with given orgn0 esources
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Dimensions of StrategicDimensions of Strategic
ManagementManagementop Management %ecisionsAllocation of Large Amount of ompany!s
resources
Significant Impact on the Long erm Prosperityof the (irm
(uture 4riented
Ma#or Multifunctional or Multi businessconse7uences
onsideration of factors corresponding to(irm!s e$ternal environment