STRATEGIC BUSINESS

ANALYSIS
Week 5
CILO 2- Summarize the types of policy and the
responsibilities of business policy in management
LESSON OBJECTIVE
At the end of the session, trainees are expected to identify and discuss the issues and
challenges of business policy.
CHALLENGES IN POLICY FORMULATION
AND IMPLEMENTATION
• Formulation
a. Time consuming
b. Lots of information required
c. Environmental scanning might be subjective
d. Line managers and employees unwillingness to cooperate
e. Insufficient resources
BUSINESS POLICY IMPLEMENTATION
• Set up a committee/working-group
• Consult stakeholders
• Devise draft policy. Circulate. Revise
• Have policies reviewed for legal accuracy
BUSINESS POLICY IMPLEMENTATION
• If a board of directors or advisory board exists, do a board vote.
• Set policy implementation date.
• Monitor and review.
• Consider creating and distributing a Policy Manual.
CHALLENGES IN POLICY FORMULATION
AND IMPLEMENTATION
• Implementation
a. Employee resistance to change
b. Formulated policy might be ineffective
c. Fear of losing
d. Miscommunication
Thank you for attentively listening
and participating!