BUSINESS POLICY AND STRATEGY

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Focusing on the role of business policies, this book highlights their significance in empowering lower-level management to address issues independently, reducing the need for constant upper management consultation. It outlines seven essential features of effective policies: specificity, clarity, uniformity, appropriateness, simplicity, inclusiveness, and stability. By establishing clear guidelines, business policies facilitate decision-making and help align organizational actions with the external environment, serving as crucial frameworks for operational effectiveness.