BA 211 Lecture Notes - Lecture 1: Politeia, Decision Rule, Russell L. Ackoff
Document Summary
Introduction to policy and business policy : key features of a business policy, elements of a good business policy, types of business policy, differences between a policy and a strategy, business policy implementation steps. This unit aims to introduce you to the basic concepts of a policy and business policy and to the process of formulating and implementing a business policy for better management of an organization. The unit also introduces you to the differences between a policy and a strategy. As an introductory unit, you will be exposed to various definitions of a policy and business policy, key features of a business policy, importance of creating business policy for an organization, and what makes a good business policy. You will also be exposed to the steps one would go through to formulate and implement a business policy and also to the differences between a policy and a strategy.
