2. WHAT IS BUSINESS POLICY ?
Business policy is the study of the roles and responsibility of top-level
management, the significant issues affecting organizational success and the
decisions affecting organization in the long-run .
It permits the lower level management to deal with the problem and issues
without consulting top level management every time for decisions.
Business policy are the guidelines developed by an organization to govern
its actions. They define the limits (Do’s & Dont's) within which decisions
must be made.
3. ELEMENTS OF POLICIES
Statement of purpose.
Establish roles and responsibilities.
Define asset classifications.
Provide direction for decision.
Establish the scope of authority.
Provide the basis for guidelines & procedures.
Establish accountability.
Describe appropriate use of assets.
Establish relationship to legal requirement.
4. THE ROLE OF PROCEDURES AND
GUIDELINES
• Procedures and guidelines provide the detail
about how a policy is to be achieved what will
be done by whom, when & how.
5. BUSINESS PROCESS ?
INPUT PROCESSING OUTPUT
AN ORGANISATION OF RESOURCES
• Serving a function To deliver
• Governed by policy Goods and services
• With goals and objective Meeting the needs
• Sharing a common focus Goals and objective
of the organization
PEOPLE
PROCEDURE
TOOLS AND EQUIPMENTS
6. STAGES OF POLICY PROCESS
Agenda
setting/identification of
issues or problems
Policy formulation
Policy adoptionPolicy implementation
Policy evaluation
