prepare a case discussion that describes your understanding of how business poli
ID: 353516 • Letter: P
Question
prepare a case discussion that describes your understanding of how business policy and strategy choices should be made. Provide examples to illustrate and support your position. The examples can be from reading assignments, case studies, or from other academically-appropriate sources. Cite references to material that you use in preparing the essay. prepare a case discussion that describes your understanding of how business policy and strategy choices should be made. Provide examples to illustrate and support your position. The examples can be from reading assignments, case studies, or from other academically-appropriate sources. Cite references to material that you use in preparing the essay.Explanation / Answer
Business runs in a dynamic environment because buisness environment directly influence by external environment and internal environment. So to survive buisness for long term it's important to made appropriate buisness policy and strategy . For e.g
XYZ is a financial company . Company main aim to provide loans and privide financial aid to small , meduim organisation . So there are the various products company serve. But the huge compitors in the market because financial company has not monopoly market , there are many substitute of their products available in market . So to survive buisness in long run it's important to company make appropriate business policy and strategic environment :
Business policy is made by top level of management. Top level management include CEO of company , vice president , boards of directors. This position comes with various responsibility , the main responsibility of organization is control and oversees the entire organization. Make appropriate policy for company , because of their policy company success is depend , growth of company is depend and they also made decisions on the behalf of company which affects organization in long run.
So in XYZ financial company top level make every rules , regulations , procedures and policy for the company . Business policy binds with the rules and setting the guidelines for employees . Business policy is area in which defines to take decision of buisness related like
HR policy
Marketing policy
Production policy
Financial policy
HR policy : under this policy it's define what is the standard of employees to sets regarding the recruiting of employees and salary offers by company according the ability of employees .
Marketing policy : under this policy, all issues realted to the market is sets like advertisements, offered , set goal , target customers, analyse compitors strategy etc all thing are covered which is related to product marketing under marketing policy . Top management make strategy and policy according to it.
Financial policy : under this policy top level management decide how much funds to be needed , where to invest the capital etc factors considered in this by top level . They also analyse and study company financial statement and position .
Product policy : Product policy related to product for e.g financial company launch new product according to customer needs So the customers sells would increase like nowadays people don't believe that keep saving for themselves rather than to invest their saving in market in any forms So give attention to customers needs XYZ company start SIP so it helps to maximize their profit . This is best policy and strategy for it.
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