Get premium membership and access questions with answers, video lessons as well as revision papers.
1. Business policies must be long-term perspective
This usually helps management to plan for the long term utilization of the factors of production. Also helps business to have a vision of long germ survival even in the face of competition.
In management must be able to different the cost benefit analysis between short term and long term survival.
2. Policies must have the overall view of the whole organization
This implies that policies must be made for all operational areas of the business, departments sections, production areas etc.
3. Policies must be intellectual in nature
In policy makers must utilize their conceptual skills when making policy decision
4. Policies must be entrepreneurial in nature
Must be based on opportunities, must be based on availability of the factors of production based on the benefits profits or gains to the start.
5. Policy decisions must have the best mix between the resources, environment and the opportunities to be exploited.
6. Business polices must ensure continuous scanning of both internal and external environment.
7. Business policies must be relatively fixed for a period of time between them and have an element of flexibility that allows them to incorporate any new opportunities arising from the environment.
8. Policies must incorporate all the stakeholders i.e. before policies are made the needs of all stakeholders must be identified, priorities established and as much as possible develop policies which stakeholders needs can be met. Stakeholders needs must be identified and met irrespective of whether they are contributing directly or indirectly to the performance of the organization.
9. Business policies must be demand driven, customer focused and market oriented i.e. polices must be sensitive to the ………and preferences of the customers.
Titany answered the question on November 29, 2021 at 12:51
- What You Can Do to Live a Healthier and Longer Life
(Solved)
What You Can Do to Live a Healthier and Longer Life
Date posted: November 29, 2021. Answers (1)
- Importance of a healthy lifestyle(Solved)
Importance of a healthy lifestyle
Date posted: November 29, 2021. Answers (1)
- Discuss several theoretical orientations that have been used to understand psychopathology(Solved)
Discuss several theoretical orientations that have been used to understand psychopathology
Date posted: November 29, 2021. Answers (1)
- Describe The Myth of Mental Illness according to Thomas Szasz(Solved)
Describe The Myth of Mental Illness according to Thomas Szasz
Date posted: November 29, 2021. Answers (1)
- What is a psychological disorder? (Solved)
What is a psychological disorder?
Date posted: November 29, 2021. Answers (1)
- How does psychopathology work?(Solved)
How does psychopathology work?
Date posted: November 29, 2021. Answers (1)
- What causes Psychopathology?(Solved)
What causes Psychopathology?
Date posted: November 29, 2021. Answers (1)
- What is Psychopathology?(Solved)
What is Psychopathology?
Date posted: November 29, 2021. Answers (1)
- Write short notes on the Theory of Reasoned Action(Solved)
Write short notes on the Theory of Reasoned Action
Date posted: November 29, 2021. Answers (1)
- Write short notes on the Elaboration Likelihood Model(Solved)
Write short notes on the Elaboration Likelihood Model
Date posted: November 29, 2021. Answers (1)
- Levels of attitudinal statements in behavioral science(Solved)
Levels of attitudinal statements in behavioral science
Date posted: November 29, 2021. Answers (1)
- Write short notes on the Social Judgment Theory(Solved)
Write short notes on the Social Judgment Theory
Date posted: November 29, 2021. Answers (1)
- Write short notes on Cognitive Dissonance Theory
(Solved)
Write short notes on Cognitive Dissonance Theory
Date posted: November 29, 2021. Answers (1)
- Explain the Social Psychology(Solved)
Explain the Social Psychology
Date posted: November 29, 2021. Answers (1)
- Parts of an attitude
(Solved)
Parts of an attitude
Date posted: November 29, 2021. Answers (1)
- Explain attribution processes and their effects on perception and attitudes(Solved)
Explain attribution processes and their effects on perception and attitudes
Date posted: November 29, 2021. Answers (1)
- Elements of social perception(Solved)
Elements of social perception
Date posted: November 29, 2021. Answers (1)
- Describe self-concept as perceived in self-perception(Solved)
Describe self-concept as perceived in self-perception
Date posted: November 29, 2021. Answers (1)
- What is self-Perception?(Solved)
What is self-Perception?
Date posted: November 29, 2021. Answers (1)
- What does perception as a cognitive process do?(Solved)
What does perception as a cognitive process do?
Date posted: November 29, 2021. Answers (1)