Helpdesk: WhatsApp: 0736552548 Email: info@kenyaplex.com

BBA 400: Business Policies and Decisions Notes

Institution: Kenyatta University

Course: Bachelor of Commerce

Content Category: Lecture Notes

Posted By: davidkariuki1010

Document Type: DOC

Number of Pages: 71

Price: KES 200

Views: 412 Downloads: 1

Summary

LESSON ONE:
THE NATURE AND SCOPE OF BUSINESS POLICIES

1.1: INTRODUCTION

Welcome to this lesson that deals with application of principles that are learnt in the lower level management courses. This lesson deals with the scope and overview of business policies. It gives a summary of the content of the whole unit. It also deals with the definitions that are used in this unit.

1.2: Lessons objectives
At the end of this Lesson, you will be able to:
i) To define the terms: business policies, business policy framework, policy levels and policies characteristics
ii) To describe the policy development process.
iii) Explain the importance of this unit as an area of study.
iv) Explain the trends that are likely to influence the performance of policies in future.
Lessons Outcomes
1. Apply proper business policies
2. Understand how a policy framework can affect the performance of a business.
3. Be able to design a policy frame wok geared towards the attainment of specific goals.

1.3: LESSON ONE: NATURE AND SCOPE OF BUSINESS POLICIES

1.3.1: Definitions

Policy:
There are two major definitions of the term policy hence the following two perspectives.

1. Policies are defined as guidelines that help to guide the decision making activities of the organization so as to ensure
• Consistency in decision making
• Equity in organization's activities
• Consistency in the relationships with stakeholders.
• Stakeholders’ awareness of what LessonsOutcomes to expect.
2. Policies can also be defined as long term plan (s) of action that help(s) to ensure survival and growth of the organization in the long term future. In this context, policies help to guide the following:
? The size of the organization
? The destiny of the organization
? Identity of the organization
? Allocation of resources to meet organization’s objectives
Business policy framework (BPF)
Business Policy framework defines the parameters within which policy decisions are made. BPF comprises of five variables:
? Environment – all the positive and negative dynamics or forces that are likely to influence the performance of policies. The dynamics can be within the business thus referred to as internal environment or controllable environment; or outside the business referred to as external or non-controllable environment.(refer to Lesson 2)
? Overall purpose – this is the broad objective of the business. The reason for business existence.
? Identity – this is defined as the unique characteristic that differentiates the business from any other business. It might be related to a unique customer, product, service etc.
? Resources – this includes all the factors of production at the disposal of the business.
? Activities – refers to what the business does with the available resources to undertake and fulfill its overall purpose and maintain its identity.
Policy development process
This is a step by step process that comprises of
? Environment scanning
? Developing vision, mission and objectives
? Formulation of policies
? Choice of organization’s portfolio plan
? Implementation of chosen portfolio
? Evaluation of the implementation process
? Social responsibility and ethics
Policy levels
1. Functional level –policies at the department or sectional level dealing with specific products or services or area of operation.
2. Organization level – policies developed for the whole organization. They deal with the strategic actions of the whole organization’s future.
3. National level – policies developed to deal with the affairs of a specific state.
4. Zonal or regional level –policies developed for operations of a given region such as EAC, COMESA region etc.
5. International level
6. Global level
Activity
Describe the policy development process
1.3.2: Characteristics of Business policies
• Entrepreneurial in nature. This is where policy makers or managers are expected to act like entrepreneurs who are able to identify the opportunities, gather the necessary resources and exploit the opportunities for some gain in the implementation of the portfolio.
................................

Below is the document preview. Purchase to access the complete document.

........

This is the end of this document preview. Buy to download the complete document.

More Resources

AEM 203 Agroecology II Notes
AEM 203 Agroecology II Notes University of Embu Bachelor of science in management of agro-ecosystems and environment Brief overview: Basic Concepts 1. Ecosystem: A piece of earth containing...

Price: KES : 1000
ISC 207 Management Information Systems Notes
Full notes on management of information systems. Get the full notes here Brief Overview: System Concept A system is an organized, purposeful structure regarded as a whole and consisting of...

Price: KES : 200
BASS 301: Religion and Science in East Africa Notes 2016/2017
Scientific methods of study and research Brief Overview: INTRODUCTION The following section attempts to explain the relationship between religion and science. It starts by explaining the...

Price: KES : 400
AEM 203 Agroecology Notes: Interaction between agriculture, global environment and social systems
The notes comprises origin of agriculture, the global food system and its influences on environment and its mitigation measures 2.0 INTERACTION BETWEEN AGRICULTURE, GLOBAL ENVIRONMENT AND SOCIAL...

Price: KES : 1000
Laboratory Manual on the Determination of Electrical Conductivity and Salinity of Water
This is a laboratory manual on the determination of electrical conductivity and salinity of water Experiment: Determination of the conductivity and salinity of water Introduction Conductivity is a...

Price: KES : 500
Kenyatta University EMP 201: Curriculum Development Notes
Document Length: 9 pages. The notes are all about curriculum Implementation and Teacher education, the definition of Curriculum Implementation, Strategies for Curriculum Implementation, Agencies of...

Price: KES : 150
Internet and Networking Revision Notes: Module III diploma in ICT
These are revision questions and answers for module III diploma in ICT. They are very understandable Q&A for exam preparation. DATA COMMUNICATION AND NETWORKS 1. Define the term Computer...

Price: KES : 200
TPR 202 Ethics/Introduction to Ethics Notes
These are the ethics notes from a researched background and they help one understand about social science. Please read and at the end of it you will benefit, am sure. TPR 202 ETHICS/ INTRODUCTION...

Price: KES : 150
Sociology Notes: Scope of Sociology
Sociological theory: A theory refers to a statement of general principles which try to explain the nature of things. A sociological theory is, therefore, a branch of sociology that attempts to...

Price: KES : 200
BLM 3312: Logistics Management Notes
Content covered in this document: - Definition of Logistics - Types of Logistics;inbound,outbound and reverse logistics - Diagrammatic representation of different types of...

Price: KES : 100
BBM 3324: Insurance Risk Management Notes
[ENVIRONMENTAL RESOURCE MANAGEMENT]ERM Challenges 1. Assessing ERM’s Value 2. Privilege 3. Defining Risk 4. Risk Assessment Methods 5. Qualitative Versus Quantitative risks 6. Time Horizon 7....

Price: KES : 100
SCS 2113: Management Information System Notes
Management information system MIS levels in organization Functions of MIS MANAGEMENT INFORMATION SYSTEM_2 STRUCTURE What does a management information system look like? What does a management...

Price: KES : 200
Conflict of Laws With Regard to Marriage
Introduction According to Fawcett, private international law (Conflict of Laws) is that part of domestic law which comes into operation whenever the court is faced with a claim that contains...

Price: KES : 1500
CLS 401: Professional Ethics Notes
Notes on Professional Ethics and practice for Law students, neatly summarized for easier reading and understanding. Each topic is outlined clearly. The notes cover most topics taught in professional...

Price: KES : 2000
ENTR 032: Introduction to Entrepreneurship
An entrepreneur is someone who conceives an idea, creates a path to success, does whatever it takes to succeed and tries to dominate their market since they're willing to risk almost everything to...

Price: KES : 100
EMA 412: Economics and Planning of Education Notes 4th year
These are lectures note for EMA412:ECONOMICS AND PLANING OF EDUCATION for 4th year for education students. Brief Overview: Educational Planning Is a conscious and deliberate Government effort...

Price: KES : 300
EMA 411: Educational Management and Administration Notes
These are lecture notes of EMA 411.EDUCATIONAL MANAGEMENT AND ADMINISTRATION for 4th year students for teaching and reading. Brief Overview: Organization – refers to the structure and...

Price: KES : 200
AEC 418: Project Appraisal and Evaluation - Introduction to Project Appraisal Notes
Content: This is an introduction to project appraisal and evaluation. 1. Introduction A project appraisal should entail the following: 1) A presentation and discussion of the socio-economic...

Price: KES : 300
AEC 418: Project Appraisal and Evaluation - Financial Appraisal Notes
This is a well illustrated topic about financial appraisal in the course project appraisal and evaluation. This topic has the following subtopics: (i) Total investments costs (ii) Fixed...

Price: KES : 50
ABA 431: Business Research Methods for Business Management Notes 4th Year
BUSINESS RESEARCH METHODS FOR BUSINESS MANAGEMENT for 4th year for education students .The notes can be used for teaching and learning. Brief Overview: 1.1 MEANING OF RESEARCH Research refers...

Price: KES : 300
BEC 3400: Economics of Public Policy Notes
These notes gives the full detail of economics of public policy which is taught to students in fourth year who take bachelor of science in economics. The notes are well summarized and in a simple and...

Price: KES : 200
Diploma in Clinical Medicine and Surgery Cims 0336: Medicine 2 Notes
This are notes for medicine 2,they can be used for teaching in clinical medicine and surgery Brief overview: RISK FACTORS Malnutrition and conditions with IS such as HIV LBW Large population...

Price: KES : 99
ENS 2100: Urbanization and environment Notes (One Sub-topic)
This contains only one sub-topic about the environment and urbanization well written and summarized Brief Overview: URBANIZATION AND ENVIRONMENT. In this paper we are going to discuss the...

Price: KES : 10
Professional Theory and Practice
This work gives the definition, history, concepts, nature, the empirical formulation, value & ethics, practice model, perspectives and practical interventions of behavioral theory. It gives clear...

Price: KES : 200
AEC 418 Project Appraisal and Evaluation - Economic Analysis of Projects
This is a topic about economic analysis of projects. it is an important topic in project appraisal and evaluation. It has the following sub topics (i) conversion of markets to accounting prices (ii)...

Price: KES : 200
AEC 418 Project Appraisal and Evaluation - Risk Assessment of Projects
This document is about the topic 'Risk assessment of projects'. Assessment of projects is a very important thing in project evaluation. The following are the key subtopics which are highlighted. (i)...

Price: KES : 100
EPY 110: Maseno University Introduction to Educational Psychology Notes
This is full notes for the students taking Education.Introduction to psychology comes in simple and easy to understand notes placed in point form. All the theories are described in a simple way and...

Price: KES : 50
Applied Stochastic processes: Branching Process Notes
The notes are based on discrete branching process and provides a deeper understanding of the probability distributions of each population generation and introduces the concept of probability of...

Price: KES : 100
Maseno University UCI 101: Foundations of Information Technology Notes
These are full notes for the unit of Foundation of information technology UCI 101 Maseno University. Brief overview: DEFINITION OF TERMS Information and Communication Technologies...

Price: KES : 60
BSC 3321: Network System Integration and Maintenance Notes 2nd Year (4 Pages)
This is a 4 page document. Brief Overview: 1. NETWORK SYSTEM INTEGRATION Is a process of bringing together the component subsystems into one system and ensuring that the subsystems function...

Price: KES : 100

BBA 400: Business Policies and Decisions Notes

Summary

More Resources

More Content By davidkariuki1010