Impact of business policy and business startrgy
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Business policy & strategic management. ... Business Policy defines the scope or spheres within which decisions can be taken by the subordinates in an organization. It permits the lower level management to deal with the problems and issues without consulting top level management every time for decisions.
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Business Policies are the terms and conditions expressed in the market and within the business under the guidance of which the whole function works.
Whereas,
Business Strategy is the fundamental basis that helps to decide the practical working of the business. It includes the methods and techniques to be obtained to bring the utmost efficiency and effectiveness.
Business Policies and Business Strategy are the foundation which helps to boost efficiency and effectiveness as well as maintain the flexibility and clear vision and mission to work with.
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