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Business Management -> Corporate Management -> Organisational elements and the role of management -> Policy development there is no explanation for the "Organisational elements and the role of management" , the lesson has jumped to the "Policy development" is it how this lesson goes?
Policies keeps employees in check and at bay.
policies remain guide lines in organizations operations at various level and for various aspects of the business
What are stakeholders in corporate management?
Organization may need a strong policies that may guide its management , employee and the business dough it may have effects in changing environments.
How do policy management differ from managerial roles and objectives?
the organization set policies are guidelines to both managers and employees and they will always make the employees focused, however, the organization which doesn't have working procedures and policies for its employees is more likely to operate at losses
Corporate Management -1 The process of leading, administrating and directing a company. Business tasks often performed by corporate management might include strategic planning, as well as managing company resources and applying them toward attaining the company's objectives.
I love this section around policy development. I now have a broader view of the impact of policy implementation caused by the internal/external change/interference
Business Management - Corporate Management - Organisational elements and
the role of management - Policy development
Following the development of a business strategy by management, all
organisations should prepare policies and establish procedures that are to
be followed by both employees and management of that organisation. By
establishing such policies and procedures, the objectives of the
organisation can be more readily attained. As well, all stakeholders within
the organisation can be made aware of the expectations of the organisation
and what must be done to achieve these objectives.
Organisational policies will set out, in a formal manner, the practices
and procedures that are to be followed within the organisation with respect
to a significant issue or an area of business operations. The formulation
of a business policy will provide a uniform way of handling matters by
personnel within the organisation especially, where that organisation
operates from more than one workplace.
Policies may need to be developed because the environment within which the
organisation operates has changed and therefore the organisation needs to
alter or modify how they carry out certain activities and tasks, e.g. the
legislation and government regulations may be changed and may impact on how
organisations do things or prevent them from doing something. Organisations
may also pre-empt likely changes in the environment and be proactive
rather than reactive in regard to policy changes. In some cases, the
objectives of the organisation may have been changed to give the
organisation a new direction or purpose and, as a result, the policies of
the organisation will need to be re-written or amended. As well, the
competitive nature of the commercial marketplace may see a need for the
organisation to modify or to change business strategies to maintain or to
improve their market share. This could be through price differentiation,
image differentiation, design differentiation, quality differentiation,
support differentiation, market differentiation, market expansion, product
development, corporate expansion or business contraction. Finally, there
may be a need to change or modify certain policies to overcome problems
encountered with their implementation.
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