How Business Strategy and Choices should be made - 700 Words

How Business Strategy and Choices should be made Business policies refer to the guidelines which are developed by an organization in order to govern its actions/operations. They help in defining the limits within which decisions can be made in accordance with Management Study Guide, (n.d). On the other hand, business strategy refers to a long term plan of action/s designed to achieve a certain goal or set of goals or even objectives (Rapid Business Intelligent Success, RBIS (n.d). The policies and strategies should be made in line with guiding principles. In business sphere, a business policy should be specific or definite. Making policy choices that are uncertain would imply that implementation would be difficult. Additionally, a†¦show more content†¦The choices are to be made in such a manner that the business is put on a competitive edge. Moreover, strategic choices are made according to the capabilities of the business to build and maintain in the competitive environment. Lastly, it is of great importance to consider the available management systems which are readily available in operation in order to build and maintain the key capabilities. We have several examples to illustrate the choice of policies and strategies. For instance, Corning Incorporated case study by Rebecca, Henderson and Cate (2009) has its strategic choices in innovation because it has a strong team of scientists in the research and development section. This is a strength to them and hence a capability. The policy of constant innovation makes the employees be regarded as career employees for long service. We also look at the case study of DDD (Anju, Grate and Jaime, 2009). The strategic choice to expand globally was due to its highly trained staff. However, its social policy and financial constraints impeded it from recruiting the best staff. Lastly, Compsis at crossroads (Jonathan and Paul, 2009) had strategic choices of expanding its ETC business to more powerful, flexible and user friendly SICAT due to the financial constraints it was facing. In a nutshell, strategic choices and policies are very important driving forces in a business enterprise. A business policy to beShow MoreRelatedRyanair Strategy1069 Words   |  5 Pagesworld. A corporate’s strategy mainly based on three steps: Identify the strategic position, make strategic choice and make strategic actions. Each step includes different aspects. When we identify the strategic position, we should analyses both internal and external environment, consider the purpose, capability and culture. 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