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Business Policy and Strategy Individual Assignment

The document provides definitions and examples of business strategy and policy. It discusses: 1) The key differences between strategy and policy - strategy is a flexible action plan to accomplish goals while policy provides fixed guiding principles for repetitive decisions. 2) Examples of Amazon and Apple's business strategies and common corporate policies around conduct, recruitment, internet use, health and safety. 3) How information technology supports strategy implementation by automating core business functions, supporting functions like finance, and enabling fast communication between stakeholders.

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Hawe Mesfin
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323 views4 pages

Business Policy and Strategy Individual Assignment

The document provides definitions and examples of business strategy and policy. It discusses: 1) The key differences between strategy and policy - strategy is a flexible action plan to accomplish goals while policy provides fixed guiding principles for repetitive decisions. 2) Examples of Amazon and Apple's business strategies and common corporate policies around conduct, recruitment, internet use, health and safety. 3) How information technology supports strategy implementation by automating core business functions, supporting functions like finance, and enabling fast communication between stakeholders.

Uploaded by

Hawe Mesfin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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DIRE DAWA CAMPUS

DEPARTMENT OF BUSINESS MANAGEMNT

Master of Business Administration


Individual Assignment of Business Policy and
Strategy

Students Name ID NO
1.Hawlitu Mesfin……………….14231/2013

Section………...………………………. ‘B ‘
1.What is the Difference between Policy and Strategy? Explain with example

The following are the major differences between strategy and policy;

BASIS FOR
STRATEGY POLICY
COMPARISON

Meaning Strategy is a comprehensive plan, Policy is the guiding principle,


made to accomplish the that helps the organization to
organizational goals. take logical decisions.

What is it? Action plan Action principle

Nature Flexible Fixed, but they allow


exceptional situations

Related to Organizational moves and Organizational rules for the


decisions for the situations which activities which are repetitive
have not been encountered in nature.
previously.

Orientation Action Thought and Decision

Formulation Top Level Management and Top Level Management


Middle Level Management

Approach Extroverted Introverted

Describes Methodology used to achieve the What should be done and


target. what should not be done.

Examples of Strategy

 Amazon’s generic business strategy is to gain a competitive advantage by driving


down costs (cost leadership), paired with its ability to innovate in competitive
markets.
 Apple Inc.’s generic strategy is broad differentiation. This generic strategy
focuses on key features that differentiate the company and its information
technology products from competitors

Example of Policies

We can have different types of Policies as per our Business types to achieve our
Business strategy and to mention some of the common types of Policies are;

 Code of conduct policy


A code of conduct is a common policy found in most businesses. It is a set of
rules that companies expect employees to follow. The rules establish the
expected behavioral standards for all employees
 Recruitment policy
A recruitment policy outlines how the company hires new people. It outlines the
hiring process and aims to promote consistency in the recruitment process. It's
an important document for employees to access.

 Internet and email policy


 Drug and alcohol policy
 Health and safety policy
 Grievance handling policy
 Discipline and termination policy
 Anti-discrimination and harassment policy

2. Explain the important of information technology for strategy


implementation.

Advances in technology occur every moment, and IT is playing a greater role in


organizations and is one of the essential drivers in successful strategy implementation.

IT refers to the use of computers, telecommunications and storage to create, store,


secure, process and disseminate electronic information.

 Having an automated system(s) for core business and Supports the Strategy
Implementation by avoiding routine manual work which takes time.
 Having an automated system(s) for support functions like finance and HR.
 Having an automated system(s) to manage the strategic management function
and monitoring performance targets (financial & strategic)
 Having an automated communication tool (s) (email, Yammer, …etc.) and
supports strategy Implementation by Having constant and Fast Communication
throughput all the stake holders.
THANK YOU

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