Business policy and strategic Analysis - By: Kaltar

Introduction
Business Policy is the process, philosophy and the course of action that an enterprises or company uses for commercial purposes. Organizations follow the set guidelines in order to ensure success in the market. Strategies are formulated in order to steer the direction and scope of the company towards meeting the expectations of the stockholders and the various long and short term goals of the company.
The Business policy and strategic Analyses has been divided into four parts. The first parts deals with the process of strategic management in business policies with special preference to the Indian Industrial context. It also examines the role and functions of the management and chief executive officer of Organizations. The third part focuses on the process of strategy formulation and the SWOT analysis. The fourth part explains the model of strategy formulation and various behavioural considerations that affect the strategic choice.

Nature , Scope and importance of Business Policy
In every filed of management studies, the conceptual misunderstanding about the subject and the knowledge of underlying concept always remains due to lack of proper understanding about the subject, it j purpose and importance. For this purpose it is very essential to know the meaning and description of the topic and then its scope and applicability. Some interchangeable expressions are often treated as synonymous. Similarly in the case of planning, perhaps a major part of the problem lies in understanding, What is meant by planning itself .
The importance of planning is based on the characteristics of human being. This is that makes human beings better than other creations of God. The moment a baby is born, planning for his future starts. Now If a person does not make out to what port he is steering , No airstream is favourable to him. Thus Planning is a process concerned with the future . However, close understanding of different terms in corporate context would help in understanding their significance better as logically management and planning are closely interrelated .

Every organization has a need to define what it is what it wants to be, what it wants to accomplish, to assess what it has to work with, to decide how to use what it has with its environment to accomplish those purposes and then to translate all this into plan, act upon those plan and measures results. This entire process is called by various names. Some of these are police, strategy, the strategic process and planning or combinations and derivative of these.

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