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MBA881Management Sciences3 Unitsintermediate

Business Policy

This course provides a comprehensive overview of business policy and its evolution into strategic management. It explores the functions of general management, the concept of corporate strategy, and the linkages between organizations and their environments. Students will learn about policy formulation, strategic decision-making, and the importance of aligning organizational goals with business objectives. The course also covers strategic analysis, implementation, and evaluation, equipping students with the skills to address complex business problems and contribute to organizational success.

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208h
Study Time
13
Weeks
16h
Per Week
basic
Math Level
Course Keywords
Business PolicyStrategic ManagementStrategy FormulationOrganizational AppraisalCompetitive Advantage

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
➕
Math Level
Basic Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Business Policy Overview

2

Evolution of Business Policy

3

Strategy Formulation

4

Strategic Decision-Making

5

Environmental Analysis

6

Organizational Appraisal

7

Generic Strategies

8

Portfolio Planning

Total Topics8 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assessments (TMAs)

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

General Manager

Apply your skills in this growing field

Business Analyst

Apply your skills in this growing field

Management Consultant

Apply your skills in this growing field

Strategic Planner

Apply your skills in this growing field

Executive Director

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

ManufacturingFinanceMarketingConsultingPublic Sector

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Business Policy

2h

Unit 1: Business Policy – An Overview

2 study hours
  • •Read the introduction to understand the contemporary meaning of business.
  • •Study the definitions of business, policy, and business policy.
  • •Understand the development process of the course.
  • •Familiarize yourself with the objectives of the course.
Week
2

Module 1: Business Policy

2h

Unit 2: Evolution of Business Policy and Its Prospects

2 study hours
  • •Study the evolution of business policy through ad-hoc policy-making, planned policy formulation, and the strategy paradigm.
  • •Understand the emerging comprehensive approach to managing discontinuous change.
  • •Predict the future of business policy with regard to managerial practices.
Week
3

Module 1: Business Policy

2h

Unit 3: Business Policy and Its Importance in Organisations

2 study hours
  • •Examine the major sources of business policies: originated, appealed, implied, and externally-imposed.
  • •Understand the top-to-bottom, functional, and bottom-to-top approaches to policy formulation.
  • •Study the characteristics and qualities of good business policies.
Week
4

Module 1: Business Policy

2h

Unit 4: Policy Formulation as a Skill

2 study hours
  • •Learn about types of policies: personnel, capital, objectives, means, and specific organizational areas.
  • •Understand the reasons for formulating policies and the art of policy formulation.
  • •Study the policy-making process and the roles of employees in policy formulation.
Week
5

Module 1: Business Policy

2h

Unit 5: Policy and Other Related Terms

2 study hours
  • •Examine the relationships between policy and vision, mission, objective, strategy, and procedure.
  • •Understand how policies are subdivided and stated in terms of procedures and rules.
  • •Reflect on the interface of policy with the vision, mission, and objectives of the organization.
Week
6

Module 1: Business Policy

2h

Unit 6: Organisational Policy and Business Policy in Different Organisations

2 study hours
  • •Describe organizational policy and its nature.
  • •Discuss the purposes of organizational policy.
  • •Explain business policy in different organizations.
  • •Highlight functions of policy in management and recent developments in organizational policy making.
Week
7

Module 1: Business Policy

2h

Unit 7: Functions of Business Policy and Recent Developments in Policy Making

2 study hours
  • •Discuss the different functions of business policy in management.
  • •Examine recent developments in organizational policy making.
  • •Explain the uses of policies for management effectiveness.
Week
8

Module 2: Strategy and Management of Organisational Strategy

2h

Unit 1: Strategy and Strategic Management- An Overview

2 study hours
  • •Study the historical development of strategic management.
  • •Understand the concept of strategy and strategic management.
  • •Explain the scope of strategy and strategic management.
  • •List the phases of strategic management.
Week
9

Module 2: Strategy and Management of Organisational Strategy

2h

Unit 2: Strategic Management Process and the Strategists

2 study hours
  • •Discuss the strategic management process and its phases.
  • •Draw the strategy model.
  • •Describe strategists and explain their different roles.
  • •Understand the criteria for assessing strategic alternatives.
Week
10

Module 2: Strategy and Management of Organisational Strategy

2h

Unit 3: Strategic Decision Making and Theories of Strategic Management

2 study hours
  • •Explain strategic decision-making.
  • •Discuss issues in strategic decision-making.
  • •Enumerate and discuss theories and the various schools of thought on strategic formation.
Week
11

Module 2: Strategy and Management of Organisational Strategy

2h

Unit 4: Levels of Strategy

2 study hours
  • •Understand the different phases of strategic management and their relationships with different levels of strategy.
  • •Define, explain, and discuss corporate level strategy.
  • •Define, explain, and discuss business level strategy.
  • •Define, explain, and discuss functional level strategy.
  • •Define, explain, and discuss operational level strategy.
Week
12

Module 2: Strategy and Management of Organisational Strategy

3h

Unit 5: Generic Strategies

2 study hours
  • •Explain cost leadership strategy.
  • •Explain differentiation strategy.
  • •Explain focus strategy.
  • •Explain grand strategies (master business strategies).

Unit 6: Grand Strategies

1 study hours
  • •Discuss determinants of success of strategies in organizations.
Week
13

Module 2: Strategy and Management of Organisational Strategy

3h

Unit 7: Strategic Management in Generic Types of Industry Environment, and Competitive Situations

3 study hours
  • •State and explain strategies for competing in young, emerging, and growing industries.
  • •State and explain different strategies for competing in the international environment.
  • •State and explain different appropriate strategies for industry leaders.
  • •Discuss, explain, and state competitive strategies for runner-up firms.
  • •Discuss, explain, and state competitive strategies for weak operators.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create detailed summaries of each module, focusing on key concepts and frameworks.

2

Practice applying SWOT analysis to real-world business cases.

3

Develop a strong understanding of Porter's Five Forces and Generic Strategies.

4

Review all Tutor-Marked Assignments (TMAs) and their solutions.

5

Focus on understanding the strategic decision-making process and its various components.

6

Create concept maps linking Units 3-5 to better understand the relationship between strategic analysis and strategic choice.

7

Practice calculating financial and economic indices from business data.

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