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Q.

What is the nature & importance of business policy

Tags: money, education, business policy
Asked by Vishal Mohan, 11 Oct '09 12:04 pm
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Answers (3)

1.

It has a large no. of importance.
Answered by sachin acharya, 11 Oct '09 12:09 pm

 
  
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2.

What is nature of business policy
Answered by Kavitha, 10 Dec '09 10:20 am

 
  
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3.

The mission of the business is its most obvious purposewhich may be, for example, to make soap.
The vision of the business reflects its aspirations and specifies its intended direction or future destination.
The objectives of the business refers to the ends or activity at which a certain task is aimed.
The business's policy is a guide that stipulates rules, regulations and objectives, and may be used in the managers' decision-making. It must be flexible and easily interpreted and understood by all employees.
The business's strategy refers to the coordinated plan of action that it is going to take, as well as the resources that it will use, to realize its vision and long-term objectives. It is a guideline to managers, stipulating how they ought to allocate and utilize the factors of production to the business's advantage. Initially, it could help the managers decide on what type of business they want to form.
Answered by venkatesaldevarajan, 11 Oct '09 12:11 pm

 
  
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