The Impact of Business Policy on Organizational Performance

The Impact of Business Policy on Organizational Performance

All management experts and authors believe that policy formulation is part of planning and define it in similar ways.  Yoder (1995:26) defines policy as the guideline to managerial action.  According to Ewurum and Unamka (1995:72) policy is the general guide to action.  It is a guide for making decisions in an enterprise.  Ugbaja (1996:112) defines policy as a guide for making administrative decisions.  Nwatu (1996:67) refers to the term, policy, as the organizational methods, procedures, rules and practices associated with implementing and executing strategy. [Read more…]