Stratigies and Policies
The determination of the purpose and the basic long term objectives of an enterprise, and the adoption of course of action and allocation of resource necessary to achieve these aims .
General statements or understanding that guide thinking in decision making, the essence of policies is the existence of discretion , with in certain limits, in guiding decision making .
Both strategies and policies give direction to plans. They provide the framework for plans and serve as a basis for the development of tactics and other managerial activities .