Business policy refers to the aggregate guidelines across a company's functional areas like production and marketing. It involves studying business strategies, making decisions, and taking actions to develop effective strategies. The origins of business policy can be traced to 1911 when Harvard introduced an integrative management course. However, the field grew with two 1959 reports recommending a capstone business policy course. Business policy evolved from ad hoc policies to planned formulation to a strategic paradigm to current strategic management approaches. Business policy involves determining a company's future direction, defining its purposes and needs, and mobilizing resources to achieve goals amid competition.
Environmental Analysis is described as the process which examines all the components, internal or external, that has an influence on the performance of the organization.
Strategic management is the management of an organization’s resources to achieve its goals and objectives.
Environmental Analysis is described as the process which examines all the components, internal or external, that has an influence on the performance of the organization.
Strategic management is the management of an organization’s resources to achieve its goals and objectives.
Strategic Business Unit Defined
A strategic business unit is a fully functional and distinct unit of a business that develops its own strategic vision and direction.
This presentation is an overview of Capital Structure Theories.
Dr. Soheli Ghose ( Ph.D (University of Calcutta), M.Phil, M.Com, M.B.A., NET (JRF), B. Ed).
Assistant Professor, Department of Commerce,St. Xavier's College, Kolkata.
Guest Faculty, M.B.A. Finance, University of Calcutta, Kolkata
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
Strategic Business Unit Defined
A strategic business unit is a fully functional and distinct unit of a business that develops its own strategic vision and direction.
This presentation is an overview of Capital Structure Theories.
Dr. Soheli Ghose ( Ph.D (University of Calcutta), M.Phil, M.Com, M.B.A., NET (JRF), B. Ed).
Assistant Professor, Department of Commerce,St. Xavier's College, Kolkata.
Guest Faculty, M.B.A. Finance, University of Calcutta, Kolkata
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
This presentation was prepared by Abdulkadir Warsame to help young generation who are searching more about strategy implementation. Please let me see your comments and recommendations for further inputs.
CORPORATE STRATEGY AND GOVERNANCE a must readNGANG PEREZ
The modern business world now recognizes the importance of strategic issues and the contribution of strategic management to business success. While this has many benefits it also brings many problems. It could be argued that ‘strategy’ (or ‘strategic’) is the most overused/misused phrase in business today. Everybody seems to have a ‘strategy’ for everything. By attaching the term ‘strategy’ to an activity, it somehow becomes more important – “more grand” – but in reality very little actually gets done! To illustrate this, the lecturer recalls the recent experience of sitting through a seemingly endless meeting, listening to people talking on-and-on about ‘strategy’ or the need for a strategic view. Finally, someone said something sensible; ‘… there’s too much strategy and not enough people doing things!’ This blunt comment is memorable for two reasons. Firstly, it ended a tedious meeting. Secondly, and more importantly, it illustrated a key point: strategy must lead to action, not be a substitute for it. Ultimately, all organizations need ‘people doing things’. The goal of strategy is to ensure that they are doing the right things. These actions need to be coordinated, efficiently executed and focused on meeting customer need.
Strategic management and Business policy
unit 1 ( BBA 3RD year 6th sem)
Prepared by - Dipankar Dutta
Faculty, Dev Bhoomi Group of Institution Saharanpur
email- dipankarpharma1@gmail.com
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
2. Defining Business Policy
• It is the aggregate of the policy guidelines of
different functional areas viz. production,
marketing, finance etc. in a company.
• It is the major policy guidelines drawn by the
board of directors to regulate the overall
direction in which company should move.
• It is the process of study, process of decision and
process of action leading to development of
effective business strategy.
3. BUSINESS POLICY AS A
DISCIPLINE
• The genesis of business policy –
• The origins of business policy can be traced back
to 1911 when the Harvard Business School
introduced an integrative course in management
aimed at providing general management capability.
This course was based on case studies which had
been in use at the school for instruction purposes
since 1908. However, the real impetus for
introducing business policy in the curriculum of
business schools came with the publication of two
reports in 1959.
4. BUSINESS POLICY AS A
DISCIPLINE
• The Gordon and Howell Report sponsored by Ford
Foundation had recommended a capstone course
of business policy which would give participants an
opportunity to pull together what they have
learned in the separate business fields and utilize
this knowledge in the analysis of complex business
problems.
• In today’s situation business policy is considered
as an integrative course offered to those who
have already been through a set of core
functional area courses.
5. BUSINESS POLICY AS A
DISCIPLINE
• The term “Business Policy” has been used
traditionally though new titles such as “Strategic
Management”, “Corporate Strategy and policy”
and so on are now used extensively for the course.
• The discussion has so far been related to the
academic status of the business policy course.
• In practice however, the development has been
along different lines.
6. EVOLUTION BASED ON
MANAGERIAL PRACTICES
- Guleck has viewed the development in
business policy as arising from the use of
planning techniques by managers. Starting
from day-to-day planning in earlier times
managers till recently tried to anticipate
the future through the preparation of
budgets and by using control systems like
capital budgeting and management by
objectives.
7. EVOLUTION BASED ON
MANAGERIAL PRACTICES
• However as these techniques were unable to
emphasis the role of the future adequately, long
range planning came into use. But soon, long range
planning was replaced by strategic planning and
later by strategic management – A term that is
currently being used to describe the process of
strategic decision making. Strategic Management
forms the theoretical framework for business
policy courses today.
8. HISTORICAL PERSPECTIVE OF
BUSINESS POLICY –
• Hofer has viewed the evolution of business policy in
terms of four paradigm.
• For the sake of convenience, these shifts may be
considered as four overlapping phases in the
development of the subject of Business Policy. It is
interesting to note that the development of business
policy as a field of study has closely followed the
demands of real – life business.
• Ad hoc Policy – According to Hofer and others the
first phase which can be traced back to the mid
1930’s rested on the paradigm of Ad Hoc Policy
making. The need for policy making arose due to the
nature of the American business firms of that period.
9. • The firms which has originally commenced
operations in a single product line catering to a
unique set of customers in a limited geographical
area expanded in one or all of these three
dimensions. Informal control and co-ordination
became partially irrelevant as expansion took
place and the need to integrate functional areas
arose. This integration was brought about by
framing policies to guide managerial action. Policy
making became the prime responsibility of
erstwhile entrepreneurs who later assumed the
role of senior management.
10. Planned Policy
formulation
• Due to the increasing environmental
changes in the 1930’s and 40’s in the
U.S. planned policy formulation
replaced Ad Hoc policy making.
Based on this second paradigm the
emphasis shifted to the integration
of functional areas in a rapidly
changing environment.
11. Strategy Paradigm
• Increasing complexity and accelerating changes in
the environment made the planned policy paradigm
irrelevant since the needs of a business could no
longer be served by policy making and functional
area integration only. By the 1960’s there was a
demand for a critical look at the basic concept of
business and its relationship to the environment.
The concept of strategy satisfied this
requirement and the third phase based on a
strategy paradigm emerged in the early sixties.
12. Strategic Management
• The current thinking which emerged in the eighties is
based on the fourth paradigm of strategic
management. The initial focus of strategic
management was on the intersection of two board
fields enquiry : The strategic processes of business
firms and the responsibilities of general management.
Thompson and Strickland say “ The approaches and
methods of analysis of strategic management have not
yet coalesced into theory of how to manage an
enterprise. But they very definitely do represent a
powerful way of thinking to resolve strategic issues.
13. • The resolution of strategic issues that affect the
future of a business firm has been a continual
endeavor in the subject of business policy. The
endeavor is based on the development of strategic
thinking. As Whitefield says “Really useful training (in
strategic management should yield)… A comprehension
of a few general principles with a through grounding in
the way they apply to a variety of concrete details.
Most likely, the students will forget the details and
principles but remember (usually unconsciously) new,
non – obvious ways of thinking strategically.” The
general principles underlying strategic thinking have
been the focus of the efforts of researchers and
academicians in the field of Business Policy.
14. Business Policy
• As defined by Christensen and others, Business Policy
is “The study of the function and responsibilities of
Senior Management, the crucial problems that affect
success in the total enterprise and the decisions that
determine the direction of the organization and shape
its future”.
• The problems of policy in business like those of policy
in public affairs have to do with –
– The choice of purposes.
– The molding of organizational identity and
character.
– The continuous definition of what needs to be done
– And the mobilization of resources for the
attainment of goals in the face of competition or
adverse circumstances.
15. Business Policy
• This comprehensive definition covers many aspects of
Business Policy –
– Firstly it is considered as the study of the functions and
responsibilities of the senior management related to those
organizational problems which affects the success of the
total enterprise.
– Secondly, it deals with the determination of the future course
of action that an organization has to adopt.
– Thirdly, it involves a choosing the purpose and defining what
needs to be done in order to mould the character and identify
of an organization.
– Lastly, it is also concerned with the mobilization of resources,
which will help the organization to achieve its goals.
16. THE IMPORTANCE OF
BUSINESS POLICY
• Business Policy is important as a course in the
Management curriculum and as a component of
executive development programs for middle-
level managers who are preparing to move up
to the senior management level. A study of
Business Policy fulfills the needs of
management students as well as those middle-
level managers. We shall consider four areas
where this course proves to be beneficial –
• For learning the course.
• For understanding the business environment.
• For understanding the organization.
• For personal development.
17. • The purpose of Business Policy is three – fold –
• To integrate the knowledge gained in various
functional areas of management.
• To adopt a generalist approach to problem solving.
• To understand the complex inter-linkages
operating within an organization through the use
of a systems approach to decision-making and
relating these to the changes taking place in the
external environment.