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Write a three page essay on your concept of business policy- class and book is concepts in strategic management and business policy by Thomas L. Wheelen and J. David Hunger
Concept Of Business Policy
Length: 2 pages (550 Words)
For a business to succeed, it should come up with good strategies. Such strategies form part of a whole business and management policy that controls the business in linking with the clients. These concepts of business policy and strategic management play a vital role in helping the owners of the business achieve their responsibilities and set the objectives clearly. Strategic management was introduced by Peter Drucker in the mid -20th century. It is a theoretical concept. The reasoning behind strategic management is that the owners of the business should adopt a clear business philosophy so that they are better equipped to meet their goals and objectives. It could also be about innovating new products or trying to make a difference in the society. The management’s strategy is sometimes driven by a combination of motives.