What Is The Example Of Business Policy And Strategy?
Business policy and organizational strategies are highly linked with each other. Policies are usually introduced by the organization to cater to the strategic interests of the organizations. Strategy serves as the means to define the ways through which organization will achieve its policy goals. For example, an organization which is suffering from stagnation or lack of innovation can change its business policy to bring change in HR policies. It may start hiring new talented fresh graduates and start giving retirement packages to the older employees to leave the organization. The strategy to achieve this goal can be to design an attractive package which can result in lesser resistance from the current employees. It can also include attractive job designs for the new hiring to attract quality HR in to the organization.
