SM_Unit 6_PPT
-
Upload
harish1965 -
Category
Documents
-
view
213 -
download
0
Transcript of SM_Unit 6_PPT
-
7/27/2019 SM_Unit 6_PPT
1/14
C o n f i d e n t i a l
1
Program : MBA
Semester : IV
Subject Code : MB0052
Subject Name : Strategic Management & Business policy
Unit number : 6
Unit Title : Business Policies
Lecture Number : 6
Lecture Title : Business Policies
HOME NEXT
-
7/27/2019 SM_Unit 6_PPT
2/14
C o n f i d e n t i a l
Unit-6 Business Policies
2
Business Policies
Objectives:
To understand business policy
To understand the need of business policy
To study the types of business policy
To discuss importance of business policy statements
To study the role of corporate culture in implementing strategy
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
3/14
C o n f i d e n t i a l
Unit-6 Business Policies
3
Lecture Outline
Introduction & Features of Business Policy
Importance of Business Policy
Definitions of Important Terms
Types of Business Policies
Business Policy Statements
Corporate Culture
Summary
Check Your Learning
Activity
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
4/14
C o n f i d e n t i a l
Unit-6 Business Policies
Introduction
Business policies are the directions or paths taken by an organisation
to manage its activities.
Features of business policy are:
It should be specific and clear
It should be uniform and appropriate
It should be comprehensive and flexible
It should be stable and in a written form
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
5/14
C o n f i d e n t i a l
Unit-6 Business Policies
5
Importance of Business Policy
The importance of business policy are:
Promote coordination throughout the organisation
Help to make quick decisions Control the planned activities effectively
Help in decentralising and reorganising roles and responsibilities
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
6/14
C o n f i d e n t i a l
Unit-6 Business Policies
6
Definitions of Important Terms
Policy: It is a set of actions laid down by the senior management to
achieve business objectives.
Procedure: It involves a series of steps which have to be followed in
order to achieve a specific goal.
Process: Business activities are considered as process.
Programmes: It is a set of principles laid down to accomplish a
specific goal.
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
7/14C o n f i d e n t i a l
Unit-6 Business Policies
7
Types of Business Policies
The various types of business policy are:
General or specific policy
Written or implied policies
Originated, imposed and appealed policies
Organisational and functional policies
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
8/14C o n f i d e n t i a l
Unit-6 Business Policies
8
Business Policy Statements
Business policy statements are formal certificates, displaying thecondition of business in a condensed form.
Steps to develop policy statements are:
Gathering information and customising into a policy
Using simple words & covering all the queries
Selecting a pilot group to review policy legally
Updating the policy regularly
Different parts of policy statement are:
General statement of intent
Organisation & arrangement
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
9/14C o n f i d e n t i a l
Unit-6 Business Policies
9
Corporate Culture
Corporate cultureis a well defined culture explaining values, attitudes
and standards followed by organisational members.
Features:
Innovation and risk taking
Attention to detail & Outcome orientation
People orientation & Team orientation
Aggressiveness & stability
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
10/14C o n f i d e n t i a l
Unit-6 Business Policies
10
Corporate Culture contd..
Role of corporate culture in strategy implementation:
Helps the smooth implementation of strategy
Amends values
Motivates employees to achieve oragisational objectives
Encourages informality
Tolerates mistakes
Acts as community cultural centers
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
11/14C o n f i d e n t i a l
Unit-6 Business Policies
11
Corporate Culture contd..
Hindrances due to corporate culture:
Cultural difference
Loss of jobs Existence of subcultures
Communication breakdown
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
12/14C o n f i d e n t i a l
Unit-6 Business Policies
12
Summary
Business policies are very important for an organisation in terms of
its growth, success and achievement determined goals.
Business policy statements should be formulated for successful
functioning of the organisation.
Corporate culture and its role in governing the organisation has to be
given prominence while making business policies.
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
13/14C o n f i d e n t i a l
Unit-6 Business Policies
13
Check Your Learning
1. What are the features of business policy?
Ans. Specific, stable, uniform, appropriate, comprehensive, flexible and
should be in a written form.
2. State whether true or false:
i) Business policies are not involved in the success of an organisation.
Ans. False Business policies plays very important role in success of the
organisation.
3. What are the parts of policy statement?
Ans. General intent statement, organisation and arrangement.
HOME NEXTPREVIOUS
-
7/27/2019 SM_Unit 6_PPT
14/14C o n f i d e n t i a l
Unit-6 Business Policies
14
Activity
Suppose in a company, you belong to a team wherein your team and
senior management are involved in creating policy statements.
Suggest measures you would take while implementing a policy
statement.
HOMEPREVIOUS