Business policy is the study of the roles and
responsibilities of top- level management, the significant issues affecting
organizational success and the decisions affecting organization in the
long-run.
Strategic
management is the set of managerial decisions and actions that determines the
long run performance of an organization.“The determination of the basic long-term
goals & objectives of an enterprise and the adoption of the course of
action and the allocation of resources necessary for carrying out these goals”-Chandler
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Point
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Business
policy
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Business
strategy
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Meaning
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Guiding principle that helps the organization to take logical
decisions
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Comprehensive plan to accomplish organizational goal
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What is it?
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Action principle
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Action plan
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Orientation
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Decision
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Action
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Formulation
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Top level management
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Top & Mid level management
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Approach
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Introverted
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Extroverted
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