Question

Explain example of policy and strategy

Answer 1

Explanation:

So, for example, your marketing strategies would look at price, distribution, product, packaging, and promotion. There might be a specific strategy for each. HR management will have a set of strategies too. These could include recruitment, retrenchment, remuneration strategy, or training strategy.

Policy refers to a set of rules made by the organization for rational decision making. ... You should know that policies are subordinate to strategy.

Answer 2

Answer:

Policy: Policies are the general statements which guide thinking and action organisation. A policy serves as a guide to decision makers to channelizes the energy in a proper direction. It provides direction to deal with a particular situation. Such a policy is the general response to a particular problem or situation. Policies guide the managerial action and decisions in the implementation of strategy. For example, sales policy, recruitment policy etc.

Strategy: A strategy provides the broad contours of in organisation's business. It is a unified comprehensive integrated long term plan that relates the strategic advantages o the challenges of the environment. It is designed to ensure that the basic objective are achieved through proper execution.