Top 10 CORE BUSINESS POLICIES

AND PROCEDURES
BUSINESS
PROCEDURE
MANUAL
OBJECTIVES OF BUSINESS POLICY
OBJECTIVES OF BUSINESS POLICY
1. KNOWLEDGE
• External and internal environment is vital to
understanding of business policy.
• The information about environment helps in
determination of the mission, objectives and strategies of
the firm.
• The implementation of strategy is a complex issue and is
invariably the most difficult part of strategic management.
• To survey the literature and learn about the research
taking place in the field of business policy is also an
important knowledge objective.
OBJECTIVES OF BUSINESS POLICY
2. SKILLS
• The study of business policy should enable a student to
develop analytical ability and use it to understand the
situation in a given case or incident.
• The study of business policy should lead to the skill of
identifying the factors relevant in decision making. The
analysis of SWOT present in the environment.
• The above objectives in terms of skill increase the mental
ability of the learners and enable them to link theory with
practice.
• As a part of business policy study case analysis leads to the
development of oral as well as written communication skills.
OBJECTIVES OF BUSINESS POLICY
3. ATTITUDES
• The attainment of the knowledge and skills objectives should lead
to the inculcation of an appropriate attitude among the learners.
• By acting in a comprehensive manner, a generalist is able to
function under conditions of a partial ignorance by using his or
her judgement and intuition.
• For a general manager information and suggestions are important
to pose a liberal attitude and be receptive to new ideas.
• It is important to have the attitudes to go beyond and think when
faced with a problematic situation. Developing a creative attitude
is the hallmark of general manager who refuses to be board by
precedents and stereo typed decision.
BUSINESS VISION AND
COMPANY MISSION
STATEMENT
COMPONENTS OF BUSINESS VISION
 COMPONENTS OF BUSINESS VISION

• Examples of CORE VALUES

 COMPONENTS OF BUSINESS VISION

• Examples of CORE VALUES

 COMPONENTS OF BUSINESS VISION

• 2. CORE PURPOSE
• The core purpose is the reason that the firm exists.
This core purpose is expressed in a carefully
formulated mission statement.
• Relatively unchanging and for many firms endures or
even centuries.
 COMPONENTS OF BUSINESS VISION

• 2.example of CORE PURPOSE:

– To experience the joy of advancing and applying technology

for the benefit of the public.
 COMPONENTS OF BUSINESS VISION

• 2.example of CORE PURPOSE:

• Wal-Mart: To give ordinary folk the chance to buy the
same things as rich people.
 COMPONENTS OF BUSINESS VISION

• 2.example of CORE PURPOSE:

• Mary Kay Cosmetics: To give unlimited opportunity
to women
 COMPONENTS OF BUSINESS VISION

• 3. VISONARY GOALS
• Lofty objectives. “ big, hairy, Audacious Goals”
• Visionary goals are selected.
• Long-term
• Challenging than strategic
Or tactical goals.
 COMPONENTS OF BUSINESS VISION

• 3. VISONARY GOALS categories:

• TARGET – quantitative or qualitative goals.

• COMMON ENEMY- centered on overtaking a specific firm.

• ROLE MODE- to become like another firm in a different industry or market.

• INTERNAL TRANSFORMATION- appropriate for very large corporations.

 MISSION
• McDonald’s: To be the world’s best quick service
restaurant experience. Being the best means
providing outstanding quality, service, cleanliness,
and value, so that we make every customer in every
restaurant smile.
OBJECTIVES OF MISSION STATEMENT