BUSINESS

Business Organization And Policy

Business Organization And Policy

Introduction

In today's fast pace of competition, the competition among the organizations have increased. In order to achieve the competitive position in the industry, the organizations develop and implement various strategies and approaches in order to attain the competitive advantage and to attain the high level of profit margins. The organizations are required to carry out the business effectiveness with great efficiency and effectiveness. The success of every organization depends upon the way the organization manages it business processes and the way in which it carries out its strategic action plans. The strategic business planning and policies have direct and significant impact upon the overall success and growth of the organizations. According to Chris H. and Andrew P. (1992, pp. 148), the organizations have to take careful considerations while developing and implementing the business strategies. The reason behind this factor is that the business policies directly affect the market position and the competitive advantage of the organization.

The organizations develop and implement business plans according to its potential and resources that it possesses. There are various factors upon which the business plans and business strategies of the organizations depend. The following section aims at discussing in detail about the impact of the business policies and business strategies upon the overall success and growth of the business. It will also be discussed in detail that how the organization formulate and implement their business strategies according to the internal and the external business environment of the organization.

Discussion

In order to develop the business policies and the business strategies, the organizations are required to consider various factors. The most significant factors that are required to be consider involve the industry and the market trends in which the organization operates its business. The level of competition among the competitors in the industry as well as the humans and financial resources of the organization are also required to be analysed by the organization. The internal and external environment of the business also has significant and direct impact upon the business performances. The organizations have to carefully observe the changing trends in the external as well as in the internal environment of the organizations so as to bring positive changes in the organizational and operational management behaviours. The basic roles of the strategic management and administration have direct and significant impact upon the overall performance of the organizations. The research studies have found that the effective business strategies are the key to achievement of the great level of customer satisfaction and the high level of business profitability (Duane, I. R., Robert, E. H., Michael, A. H., 2008, pp. 332). It is also found that the way the business strategies are developed and implemented directly and significantly impacts overall success and failure of the company.

According to Shannassy, T. (2003, pp. 62), the effectual business operations and management systems of the organizations offer enhanced performing guidelines and the motivating factors to the employees of the organizations. It has been argued by the author that ...