Business Policy

Lecture No 1

Muhammad Adam Mohyuddin
Agenda
To develop an understanding of
Basic inputs required
Making &
Implementing business policy decisions
Agenda
Business Policy
An Introduction
Implementation of Corporate Plans
Business System
Organization Functions
Production Policy
Personnel and Financial Policy
Corporate Structure
Process of Control
Industrial Growth and Policy
Role of Managers
Strategy and Structure
Core Concepts
Policies
Are Guidelines
Or General Limits
Within which members of an enterprise ACT

General Statements or Understandings
Which guide THINKING & ACTION
Usually of routine and repetitive nature
Of companys official attitudes towards
The range of behavior within which it will PERMIT or DESIRE
its employees to act

Core Concepts
Koonts, O Donnell
Policies are the general statements of
understandings which
Guide or Channel
Thinking and action in decision making
Limit the area in which decision is to be made
Ensure the decisions will be consistent with the
overall business objectives.
Policies
Exist at various levels of an Organization
Corporate
Business
Functional

Core Concepts
Elements of Business Policy
The Firm
Time
Opportunity
Environment