Business Policy as a Field of Study

1 January 2017

They become capable of relating environmental changes to policy changes within an organization. 7. A basic framework for understanding strategic decision making Such a framework, combined with the experience gained while working in a specialized functional area, enables a person to make preparations for handling general management responsibilities. 8. Improvement in job performance. As a middle-level manager, a person is enabled to understand the linkage between the different subunits of an organization and how a particular subunit fits into the overall picture.

This has far-reaching implications for managerial functions like coordination and communication, and also for the avoidance of inter-departmental conflicts 9. Integrate the knowledge and experience gained in various functional areas of management. It enables the learner to understand and make sense of the complex interaction that takes place between different functional areas. Characteristics of business policy The following are the main features of business policies: (a) Policies are always in writing

Business Policy as a Field of Study Essay Example

The policies in general are written procedures which specify limits or guidelines for perfection of work to be undertaken in future. (b) Directions towards goal achievements A policy is formulated in context of organizational objectives. Therefore, the policy tries to contribute towards the achievements of organizational achievements by specifying limits. (c) Persuasive Function Formulation of policy is a function of all managers whether manager of marketing, personnel, finance department etc. (d) Policy Differs from Strategy

A layman may think “there is no difference between policy and strategy” so at times people use these words interchangeably. Policies are identified as guides to thinking in decision making while strategies devote a general program of action and a commitment of emphasis and resources towards the attainment of comprehensive objectives. (e) Expressed in Qualitative and General Way Policies are generally expressed in a qualitative, conditional and general way. The verbs most often used in setting up policies are to maintain to continue, to follow, to adhere, to provide, to assist, to assure, to employ etc. f) It Involves Choice of Purpose Policies involve a choice of purpose and defining what needs to be done in order to mould the character and identify of organization. (g) Policies Must be Long Range In general a policy is a written decision by top management for achieving certain results. (h) Clarity of Thought A policy should be clear and self explanatory thus there will be no change for wrongdoing. (i) Policies are reflection of management philosophy A policy is a written and effective expression of management thought and action. III.

The Concept of General Management The roles of “General Management” are as follows: 1. Strategist As strategist, the General Manager must think of what needs to be done, communicating what has been decided, and motivating others to share their efforts. “It involves of the work of monitoring and allocating resources so that the capabilities of the organization are directed in line with strategy. And it involves to a critical degree shaping of character of the personnel of the organization and the environment in which they work. ” (D. A Schon, 1983) 2.

Organization Builders As organization builders, his responsibility for building the business organization demands not only driving it to take on ever more difficult tasks at a pace that it at least the equal of competitors, but also assessing the consequences of failure so that the inevitable unforeseeable setbacks will not destroy the firm 3. Doer As a doer, he has also a critical influence in his selections of where and when to intervene. IV. The Skills of General Manager 1. Analytical skill He must be able to deal with vital detail as well as the big picture. . Good judgment They need to be able to apply their experience and analysis quickly and decisively so that problems get resolved early. 3. Effective Communicator They must have the ability to communicate clearly one’s vision and logic. They are constantly engaged in sharing their view of a question, a problem, an objective, or a program of action. 4. Creativity They must have the ability to invent solutions, turning problems into opportunities. 5. Integrate They must have the ability to link vision and exhaustive detail. 6. Leadership

Effective general managers develop a way of communicating to those with whom they work that they are reliable sources of help-good ideas, good information, and good spirits, all grounded in good intentions. Top 10 skills for a manager 1. ) Organizational skills – As your responsibilities grow most likely you will be managing more projects, more people, more levels of complexity. You need to stay on-top of all of them because you are accountable for all of them. 2. ) Clear Communication – Learn to organize your thoughts clearly. Make sure the person being asked understands what you are asking.

Use short to the point sentences outlining the tasks. Use action verbs to indicate what needs to be done. 3. ) Set Measurable Deliverables, Attainable Goals – Know the big picture but set attainable measurable goals. 4. ) Transparency – Make sure you know what’s going on before you ask someone to do it. 5. ) Give Credit Where Credit is Due – Have multiple individuals contributed to the success of their project, if you cannot name them all give credit to the team. People will see that their work matters and will feel good about themselves and will be more eager to help the next time you ask.

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