Business Policy as a Field of Study

3613 Words May 11th, 2012 15 Pages
I. Introduction
The Chief Executive Officer (CEO) is accountable for managing the overall business organization. He is considered as the ultimate salesperson to the customers, main spokesperson to the market, and the leader in the business organization. Having such accountabilities is a real burden to business organization leaders, particularly if they were founders of their business desiring the “freedom they experienced during the organizations” formative years.
During the 1960s, Kenneth Andrews first defined the concept of corporate strategy as “the goals of the firm and the pattern of policies and programs designed to achieve those goals”. During this time, the idea of corporate strategy was a novel idea.

II. Concept and Definition
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(e) Expressed in Qualitative and General Way
Policies are generally expressed in a qualitative, conditional and general way. The verbs most often used in setting up policies are to maintain to continue, to follow, to adhere, to provide, to assist, to assure, to employ etc.
(f) It Involves Choice of Purpose
Policies involve a choice of purpose and defining what needs to be done in order to mould the character and identify of organization.
(g) Policies Must be Long Range
In general a policy is a written decision by top management for achieving certain results.
(h) Clarity of Thought
A policy should be clear and self explanatory thus there will be no change for wrongdoing.
(i) Policies are reflection of management philosophy
A policy is a written and effective expression of management thought and action. III. The Concept of General Management
The roles of “General Management” are as follows: 1. Strategist
As strategist, the General Manager must think of what needs to be done, communicating what has been decided, and motivating others to share their efforts. “It involves of the work of monitoring and allocating resources so that the capabilities of the organization are directed in line with strategy. And it involves to a critical degree shaping of character of the personnel of the organization and the environment in
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