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Business Policy and Strategy: Merry Grace Nuñez and Veronica Presentacion

The document discusses the differences between business policy and strategic management. Business policy provides guidelines for managers, while strategic management focuses on long-term decisions to meet specific goals. The key differences are that policies are general guidelines that can be delegated, while strategies are specific actions requiring attention from top management to mobilize resources and deal with uncertainties.

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Grace Mella Nuñez
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46 views13 pages

Business Policy and Strategy: Merry Grace Nuñez and Veronica Presentacion

The document discusses the differences between business policy and strategic management. Business policy provides guidelines for managers, while strategic management focuses on long-term decisions to meet specific goals. The key differences are that policies are general guidelines that can be delegated, while strategies are specific actions requiring attention from top management to mobilize resources and deal with uncertainties.

Uploaded by

Grace Mella Nuñez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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BUSINESS POLICY AND STRATEGY

Merry Grace Nuñez and Veronica Presentacion


Report Outline
01 Business Policy

Brief Description of Business Policy

02 Strategic Management

Brief Description of Strategic Management

03 Nature and Importance of Between Policy and Strategy

04 Comparison Between Policy and Strategy

Explain the Differences Policy and Strategy


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.

Business policy is the study of the roles and responsibilities of top


level management, the significant issues affecting organizational
success and the decisions affecting organization in long-run.
Strategic ManagemeStrategic management can be
nt defined as the art and science of
formulating, implementing, and
evaluating cross-functional
decisions that enable an
organization to achieve its
objectives.

• strategy formulation,
• implementation,
• and evaluation
Nature and Imp
ortance of Busi
ness Policy and
Strategy
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Comparison of
BUSINESS POLICY
AND
STRATEGY
DIFFERENCES STRATEGIC
POLICY MANAGEMENT
BETWEEN It offers guidelines for Deals with strategic
managers to take decisions that decide
STRATEGY appropriate decisions the long-term health of
an enterprise. It is a
AND POLICY comprehensive plan of
action designed to
meet certain specific
goals.

is a general course of Means of putting a


action with no defined policy into effect within
time limits. certain time limits.
POLICY STRATEGY DIFFERENCES
A guide to action in
Deals with those
decisions which have not
BETWEEN
areas of repetitive
activity.
been encountered before
in quite the same form STRATEGY
Decisions once Deals with crucial AND POLICY
formulated can be decisions, whose
delegated and implementation requires
implemented by others constant attention of top
independently. management
Are statements or a
Are specific actions
commonly accepted
suggested to achieve the
understanding of
objectives.
decision making.
POLICY STRATEGY
Policies are thought Strategies are action
oriented. oriented.

In case of Policies, In case of Strategic


Power is delegated to Management, Everyone
the subordinates for is empowered to
DIFFERENCES implementation. implement the strategy

BETWEEN Strategies are means to


Policies are guidelines.
STRATEGY an end.

AND POLICY
POLICY STRATEGY
Strategy is concerned
Policy is in general with uncertainties,
concerned with the competitive situations,
course of action to fulfil and risks etc that are
the set objectives likely to take place at a
future date.

Policy is an overall
guide that governs
Strategy is deployed to
mobilize the available
DIFFERENCES
and controls the resources the best BETWEEN
managerial action interest of the company.
STRATEGY
AND POLICY
References
Business Policy and Strategic Management, Unit 2, MBA C 402,
Central University of Kashmir. www.cukashmir.ac.in

Management Study Guide. Business Policy - Definition and Features


https://www.managementstudyguide.com/business-policy.htm
Thank you
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