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Final on 1332014ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Department of Business Administration)BUSINESS POLICY AND STRATEGY (8505) CHECKLIST SEMESTER: SPRING 2014 This packet comprises the following
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01
Write a mission statement for the business that clearly defines its purpose and goals.
02
Conduct a SWOT analysis to identify the business's strengths, weaknesses, opportunities, and threats.
03
Identify the target market and understand their needs and preferences.
04
Develop a competitive analysis to analyze the industry and competitors.
05
Create a strategic plan that aligns the business's goals with its resources and capabilities.
06
Establish key performance indicators (KPIs) to measure the progress and success of the business.
07
Regularly review and update the business policy and strategy to adapt to changing market conditions.
08
Communicate the business policy and strategy to stakeholders, employees, and other relevant parties.
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Monitor and evaluate the implementation of the policy and strategy to ensure its effectiveness.

Who needs business policy and strategy?

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Businesses of all sizes and industries can benefit from having a clear and well-defined business policy and strategy.
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Startups and small businesses can use it to establish a strong foundation and direction for their operations.
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Entrepreneurs and business owners can use it to make informed decisions and guide their business growth.
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Investors and stakeholders can use it to assess the viability and potential of a business.
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Employees can benefit from understanding the business's policy and strategy to align their work with the company's goals.
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Business policy and strategy refer to the decisions and actions a company takes to achieve its goals and objectives.
Companies or organizations that have specific reporting requirements set by their governing bodies are required to file their business policy and strategy.
Business policy and strategy can be filled out by outlining the company's mission, vision, goals, objectives, and the strategies to achieve them.
The purpose of business policy and strategy is to provide guidance and direction for the organization, ensuring alignment with its goals and objectives.
Information such as the company's mission statement, vision statement, SWOT analysis, strategic objectives, and action plans must be reported on business policy and strategy.
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