Write a new policy development and discuss the following areas:
The rationale for the policy development
the nature of the policy development
the expected outcomes of the policy development
how the policy development will be implemented
how the policy development will be evaluated
The response address the queries posted in 1564 with references.
//This query requires you to develop a policy by considering the rationale, nature, expected outcomes, implementation and evaluation of policy development. I would like to assist you on these points, which would help you to write you paper. See the text below: //
Policy Development: Nature, Outcomes, Implementation and Evaluation
Business Policy refer to the general practices established within a company. Business policy reflects the function and responsibilities of the senior management, the crucial problems that affect the success in the total enterprise, and the decisions that determine the direction of the organization and shape its future. The problem of policy in business, like those of policy in public affairs, have to do with the choice of purposes, the moulding of organizational identity and character, the continuous definition of what needs to be done, and mobilization of resources for the attainment of goals in the face of competition or adverse circumstances. (Kazmi A., 2002)
Corporate policies are official statements of corporate intents and aims over a broad front of its activities. They are specific and practical guidelines formulated at the top management level to serve as criteria, constraints and directions for managerial decision making and action.
The senior management consists of those managers who are primarily responsible for long-term decisions, and who carry designations, such as Chief Executive Officer (CEO), President, General Manager (GM), or executive director. These people are expected to devote their time to thinking and deciding about the future course of action. With its concern for future course of action, business policy lays down a long term plan, which the organization then follows. While determining the future course of action, the senior management has a picture of the type of organization; they want their company to become.
//In the following paragraph, we will discuss the 'Steps of Policy Development'. //
Policy Development: The approach to over-all policy formulation and control involves the following major steps: (ICAI, 2005)
Policy initiation: Line managers at fairly senior levels, in association with staff group determines the areas corporate and sub corporate policies are required, where policy review and reformulation are called for and where policy clarification is helpful. It is needless to state that the goals of each policy are to be spelt out in clear terms so that in the final analysis, the entire sets of policies form a consistent whole. At some stage in the policy initiation ...
1417 words, APA