Get Course Code Mba 817 - Sso Nou Edu

External environment of an organization which affects its ability to reach business goals. Any business or consumer with direct involvement with an organization may be part of the task environment. Examples of task environment sectors include, competitors, customers, suppliers and labour supply.

A Master of Business Administration (MBA; also Master in Business Administration) is a postgraduate degree focused on business administration.

Both business policy and strategic management apply to every department and employee of the firm. Strategic management includes many activities like setting objectives, analysing the firm's strengths, studying the competition, evaluating strategies and ensuring that the strategies are followed across the firm.

Definition of Business Environment is sum or collection of all internal and external factors such as employees, customers needs and expectations, supply and demand, management, clients, suppliers, owners, activities by government, innovation in technology, social trends, market trends, economic changes, etc.

Business policies are the guidelines developed by an organization to govern its actions. They define the limits within which decisions must be made. Business policy also deals with acquisition of resources with which organizational goals can be achieved.

DEFINITION: ing to Christensen, Business Policy is the study of: a) The functions and responsibilities of senior management, b) The crucial problems that affect the success of the total enterprise, and c) The decisions that determine the direction of the organisation and shape its future.

A business policy outlines which decisions the employees can take themselves and which decisions require approval or input from the manager. This decreases the breaks in the work process because the employees don't have to wait for their busy manager's time unless it is absolutely needed.