Relationship of policy and strategy

The Relationship of Policy to Strategy | Your Business

relationship of policy and strategy

A. M Sufian wanted to understand the difference between policy, planning and strategy. There have been a long debate about there meaning. I agree there are . The difference between Strategy and Policy is, a little complicated because Policies come under the Strategies. Strategy is a plan of action. It defines who is their customer and how they will be successful in the market. Strategy should guide all company decisions and actions. A Policy is a rule that.

Difference Between Strategy and Policy (with Comparison Chart)- Key Differences

It should have a long range perspective. It should be dynamic in nature. The main purpose is to overcome from uncertain situations. It should be made in such a way, to make the best possible use of scarce resources. Definition of Policy The policy is also regarded as a mini — mission statement, is a set of principles and rules which direct the decisions of the organisation.

relationship of policy and strategy

In addition to this, it acts as a basis for guiding the actions. Policies are designed, by taking the opinion and general view of a number of people in the organisation regarding any situation.

  • Differences between policy and strategy, and the impact of policies on health
  • The Relationship of Policy to Strategy
  • Policy and Strategy

This company must align resources, including money and human resources, to reach these segments. The marketing manager must ensure that spending directly relates to at least one marketing goal. Partnership With a Community Businesses must also work in tandem with local communities to build services that meet the public's needs.

A private waste collection company must structure its operations to meet the needs of residents and business owners, or utility customers. This company must use its own executive team to identify problems and study customer needs and set priorities so those needs will be met.

Differences between policy and strategy, and the impact of policies on health | Health Knowledge

A strategic tactic this company might take is forming an advisory board and inviting local government and business leaders to staff the board. This role is why many HR directors sit on company management teams. Policies that promote competitive, aggressive compensation packages for employees are often used by companies that have a strategy of attracting and retaining the most talented employees in their industry.

Pavneet Sir (VajiRam and Ravi) - Strategy Video for International Relations -- UPSC -- IAS -- IR

Customer Policies Product and service sellers usually have significant policies related to treatment and interaction with customers as well. This area also depicts another strong relationship between company strategy and policy.

A company that employs a strategy of targeted high-end, well-to-do customers may have very liberal customer service policies to attract and retain loyal customers. A low-price, high-volume retailer may have more strict service and return policies in line with the strategy of selling low to attract a large customer base.

relationship of policy and strategy

Differences Policies and strategies do have different purposes.