MI4506 Business Policy Syllabus:

MI4506 Business Policy Syllabus – Anna University PG Syllabus Regulation 2021

COURSE OBJECTIVE:

 The objective of this course is to help students develop the skills for formulating business policy. It provides an understanding of : i) A firm’s operative environment and how to sustain competitive advantage. ii) Role of creativity and Innovation in building Business Culture.

UNIT – I

Business- Definition- Business as a social System/Economic System: Objective of Business; Business Environment – Socio economic sector. Technology Sector, Government Sector. The industry Environment – Customer Sector/Supplier Sector/Competitor Sector. The International Environment – Opportunities for International activities / Threats from International activities.

UNIT – II

Society and Business: Business ethics, Social responsibility of Business / Indian Businessmen,- For and against arguments –Business obligations-Corporate Governance-Social Audit- Business Policy in Various Economic Systems: Capitalist Economy: Economic System of Socialism and mixed Economic system.

UNIT – III

Business Policy and Corporate Strategy: How to make policy corporate strategy: Policies: Strategies and Tactices: Policies and procedures. Policy Formulation and Implementation: Policy Formulation: Objectives, Direction: Consideration of change: Business Policy concepts. Business Policy – Characteristics- importance. Different Types of policies: Classification, Strategies, programmes, procedures and rules Major and Minor policies: Supporting composite and contingency policies: Parameter of policy: Development of Business Policy: SWOT Analysis: Elements of Business Policy: Implementation of Policy.

UNIT – IV

Major Business Policies: Man Power planning, Product Policies, Marketing Policies, Production and Purchase Policies, Financial Policies, Capital Procurement and distribution. Administration and Control of Policy: Communication System: Policy Implementation, Rules and procedures: Appended implied and imposed policy: Oral and written Policies: control and review

UNIT – V

Role of Creativity and Innovation in Business; Creativity, Innovation, Creating and building Creative and Innovative Business Culture, Business Practices adopted to promote Creativity and Innovation Importance of creativity and Innovation- Challenges involved in Innovation and Creativity.

TOTAL: 45 PERIODS

COURSE OUTCOME:

 Enable to formulate suitable policy in connection with conducting business, social responsibility, corporate governance, use innovative and creativity in the business activities.

REFERENCES:

1. Mamoria and Mamoria – Business planning and Policy, Himalaya Publishing house – Revised Edition 2012
2. Cheryl Van Deusen, Steven Wiiamson, Harold C Babson, Business policy and strategy : the art of competition, & 7th edition, Auerbach Publications, 2007.Forida
3. Christensen CR, Business Policy: Text and cases, Illinois, Richdar Irwin 2007.
4. “Strategic Management and Business Policy: Text and Cases” by Appa C. Rao and Parvathiswara B. Rao
5. WIlliam H. Tomlinson, Robert G. Murdick Business Policy and Strategy: An Action Guide, Sixth Edition