4 Internal and 5 External Determinants of a Corporate Policy
The corporate policy of an organization is influenced by various interrelated and interacting factors. These factors can be classified as internal and external factors. The…
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Scope of a Corporate Policy
Corporate policies are statements of guidelines for corporate thinking and action. They lay down the approach before the management to deal with the challenges in…
4 Stages in Formulating a Corporate Policy
A corporate policy is formulated by the top management. The formulation comprises step wise procedure. The process is similar to the decision making process and…
Classification of Corporate Policies
Corporate policies have been classified on the basis of various criteria. Over the years, the number of bases have changed and developed. Basically there are…
Classification of Corporate Policies on the Basis of Scope
On the basis of scope of an organization, policies are classified as Basic Policies, General Policies and Departmental or Specific Policies. Basic Policies:- These are…
Classification of Corporate Policies on the Basis of Expression
On the basis of expression, corporate policies can either be expressed or implied. Expressed Policies:- The policies which are expressed in clear words either orally…
Classification of Corporate Policies on the Basis of Level
Different policies are framed at different levels of management. These include: Top Management Policies:-These are framed by the top management and it is only responsible…
Classification of Corporate Policies on the Basis of Origin
On the basis of origin, policies are classified as original policies, appealed policies, imposed policies and derivatives policies. Original Policies:- These policies are formed from…
Classification of Corporate Policies on the Basis of Functional Areas
In an organization, various functional areas are seen. The policies are classified according to functional areas i.e. production policies, marketing and sales policies, financial policies…
Classification of Corporate Policies on the Basis of Nature of Management
The main functions of an organization comprise of planning, organizing, actuating and controlling. The policies may therefore be classified as planning policies, organizing policy, actuating…