what is business policy & strategic management? Is there any difference in between two?
What is Business Policy?
It is very crucial to have effective business policy for any organization. As it is a written document that define business processes and practices. It also contains the scope and characteristics of business group offerings.
In simple words, business polices are written document that ensure effective implementations of business, finance and other strategies in different department of its organizations.
In general, Strategy Management can be said as a bundle of effective assessment and acts that top management takes in regards to improve the profit margins and better performance of any organization in the market.