Basic info and introduction of business Policy,. Definition of Business Policy Business policies are the guidelines developed by an organization to govern its actions. They define the limits within which decisions must be made. Business policy also deals with acquisition of resources with which organizational goals can be achieved.

1. To

2. Business Policy defines the scope or spheres within
which decisions can be taken by the
subordinates in an organization.
Definition

3.  It permits the lower level management
to deal with the problems and issues without
consulting top level management every
time for decisions.
 Business policies are the guidelines developed
by an organization to govern its actions.
 They define the limits within which decisions
must be made.
 Business policy also deals with acquisition of
resources with which organizational goals can be
achieved.

4. 1. Specific-
2. Clear-
3. Reliable/Uniform-
4. Appropriate-

5. 5. Simple-
6. Inclusive/Comprehensive-
7. Flexible-
8. Stable-

6. Business policy specific objectives ensure:
Efficiency and effectives in performance of duties.
Equal provision of services and treatment of customers.
Better management and provision of better quality services.
The utilization and application of resources.
The formulation mission statement.
The establishment of vision of the organization.
Objectives of Business Policy