Milk Tea Essay

BUSINESS POLICY AND STRATEGIC MANAGEMENTBusiness Policy as holdThe origin of craft form _or_ system of government can be traced back to 1911, when Harvard Business School introduced an integrative run for in solicitude aimed at the creation of universal management capability. This course was based on interactive case studies which had been in use at the school for instructional purposes since 1908. The course was intended to enhance general managerial capability of students, the introduction of business policy in the curriculum of business schools/management institutes came oftentimes later. In 1969, the American Assembly of Collegiate School of Business, a restrictive body for Business, a regulatory body for business schools, made the course of business policy, a mandatory requirement for purposes of recognition. Basic altogethery business policy is considered as a capstone, integrative course offered to students who have previously been done a fixed of core functional are a courses. The term business Policy has been traditionally used though red-hot titles for the course have begun to be introduced in recent years. According to William F. Glueck, development in business policy arose from the development in the use of planning techniques by managers. Starting from day-to-day planning in to begin with times, management tried to anticipate the future through preparation of budgets and using control system manage capital budgeting and management by objectives. With the inability of these techniques to adequately punctuate the role of future, long- send planning came to be used. Soon, long range planning was replaced b y strategic planning, and later by strategic management, a term that is currently used to describe the process of strategic decision reservation.Business policy, as define by Christensen and others, is the study of the functions and responsibilities of senior management, the crucial problems that affect success in the total enterprise , and the decisions that determine the guidance of the organization and shape its future. The problem of policy in business, like those of policy in public affairs, have to do with the choice of purposes, the moulding of organizational identity and character, the continuous definition of what needs to be done, and the mobilization of resources for the attainment of goals in the face of competition or adverse circumstances. Business policy tends to emphasize on the rational-analytical aspect of strategic management. It presents aframework for understanding strategic decision making. Such a framework enables a person to make preparations for handling general management responsibilities.Meaning and the Nature of heedTo understand strategic management. We need to have a basic understanding of the term management. The term management can be used in two major contexts. A) It is used with recognition to a fundamental group in an organization in-charge of its affairs. In relation to an organization, management is the chief organ entrusted with the task of making it a purposeful and productive entity, by undertaking the task of bringing together and integrating the disorganize resources of manpower, money, materials, and technology into a functioning whole.An organization becomes a co-ordinated functioning system when management consistently mobilizes and utilizes the diverse resources. The survival and success of an organization depend to a large extent on the competency and character of its management. Management has to also facilitate organizational change and adaptation. B) The term is also used with reference to a set of interrelated functions and processes, to a field of study of discipline in social recognition and to a vocation or profession. The functions and processes of management are wide-ranging but closely related.They range all the way from design of the organization, determination of the goals and activities, mobilization and acquisition of reso urces, allocation of tasks and resources among the personnel and activity units. They also admit adoption of certain techniques, tools and methods for dischargeing on activities, through articulation of skills and efforts of organizational personnel in a unified manner and installation of communication and control system to ensure that what is planned is achieved. A wide range of definition of management exist in the literature on management. Here we shall cite the definition of a few theoriesPeter Drucker Management is a function, a discipline, a task to be done, and managers practice this discipline, carry out the function and discharge these tasks.Dalton McFarland Management is the process by which managers create, acquire, maintain and operate purposive organizations through systematic, co-ordinated an co-operative human effort.Management is an influence process to make things happen, to gain command over phenomina, to induce and direct events and people in a particular mann er. Influence is backed by power, competence, knowledge and resources. Managers formulate their goals, determine and strtegies, to cope with, to adapt and to adjust themselves with the behaviour and changes of the environment.