Importance of Business Policy Course

The Business policy course is integrative in nature. It enables the learner to understand the importance of looking at the organization as a unified whole. The functional flavor and emphasis is needed to motivate people to peak performance. But in the race to get ahead of other departments, especially where resources have to be put to effective use, one should not lose sight of the broad, overall interests of an organization. A course in business policy seeks to integrate the knowledge and experience gained in various functional areas of management. Individual departments may suffer from certain unique problems. Marketing may complain against poor quality, Production may look at poor sales support. Finance may find it difficult to come out with appropriate budgetary allocations and Personnel Department may criticize the poor compensation plans coming in the way of improved performances. Sectional interests no doubt have to be taken care of. Every attempt must be made to put out the internal fires by emphasizing the overall goals for which the organization is known. Business policy course is multi-disciplinary in nature. It draws rich inputs from other disciplines such as Psychology, Economics, and Sociology etc. The students are made to examine the important issues from various angles. Sectional interests, sectoral demands, tunnel visions and departmental loyalties and a host of other disintegrating factors are examined and cross examined bit by bit, piece by piece while arriving at mutually satisfying decisions the course helps participants to cross fertilize ideas, synchronize thoughts and deal with issues dispassionately. They can come out of the shell cross functional boundaries and take effective decisions keeping the best interests of the organizations in mind. They are willing to look at the other side of the coin more closely. They are willing to listen and toss around ideas freely, interact openly and take everything good or bad in their stride.

A course in Business policy also helps participants to improve their decision making capabilities in a significant way. Participants are encouraged to gather information from diverse sources, investigate facts thoroughly examine the opinions of affected parties initially and resolve issues through joint, interactive sessions. Strategic decision making is not a one man show. Both the manager and the subordinates must be wiling to dissolve their differences examine facts objectively and arrive at decisions to mutual satisfaction. One can develop skills of this nature of course only through experience and observation. A Course in Business policy helps participants to understand the linkages between various functional specialties decide things objectively and rationally.

Benefits of the Course: A Capsule.

1) Helps the participant to understand why functional boundaries are created and appreciate why the various sub units have to move Inc lose coordination while realizing the overall objective(s).
2) Helps to resolve difference between individual and organizational goals. Every attempt is made to pull all the functions and activities together.
3) Helps participants to work in an orderly manner appreciating the work put in by others. They understand and adjust with each other by developing mutual trust, cooperation and understanding. Production knows its target maintenance keeps equipment and tools in good order, finance arranges funds and security takes care of goods and services.
4) Creates an understanding of how overall objectives and policies are formulated why everyone has to focus attention on pre-set targets and goals, why one should appreciate the viewpoint of the other while translating rhetoric into action; why one needs to anticipate changes and adjust accordingly. The course will certainly improve the capabilities of participants in monitoring events, forecasting problems and solving them proactively rather than reactively.