BASICS OF BUSINESS POLICY AND STRATEGY

Nwankwo, S.N.P and AGU, B. O. (2018) BASICS OF BUSINESS POLICY AND STRATEGY. RITY Computers 40 Adelabu Street Uwani, Enugu. ISBN 978 -978-53186_4_7

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Abstract

One of the most important tasks in the administration of any business enterprise is to formulate policy because the work of planning and determination of objectives become effective when expressed in policy form (Appleby 1986 in Enudu, 1999). Once the objectives of an enterprise or its component units have been determined in planning, the next step is the formulation of policy that will assist the manager in the accomplishment of these objectives (Enudu, 1999). 1.1 Business call simply be defined as the activities of individuals or groups that are involved in developing, producing and distributing of goods and services needed to satisfy other people's needs and desires in return for a profit. The purpose and importance of business is to provide for consumers needs and make some money in the process. Hence the primary purpose of any business enterprise is to contribute to human welfare and to make profit. The etymology of "business" relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope-the singular usage to mean a particular organization; the generalized usage to refer to a particular market sector, "the music business" and compound forms such as agribusiness; and the broadest meaning, which encompasses all activity by the community of suppliers of goods and services (Wikipedia, 2012)

Item Type:	Book
Subjects:	H Social Sciences > H Social Sciences (General)
Divisions:	Faculty of Management and Social Sciences
Depositing User:	mrs chioma hannah
Date Deposited:	10 Nov 2020 11:58
Last Modified:	10 Nov 2020 11:58
URI:	http://eprints.gouni.edu.ng/id/eprint/2844

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