Business Policy vs. Business Strategy: Clarifying the Difference
Dear BIVILLEPM Community,
During my MBA, there was a debate about Business Policy vs. Business Strategy. Sometimes you don’t even see such discussions in foreign books.
In reality, Business Policy precedes Business Strategy (Strategic Plan). When a document is a policy, it serves as guidance for company leadership and governance decisions. When it’s a Strategic Plan, it outlines plans with a timeline for implementation.
It took me some time to understand that the Bylaws and Governance are policies or parts of policies and guidelines.
Next week, we will learn the difference between saying “I know a strategic plan” and “I have created one before.” We will understand the distinction between “I know innovation and technology strategy” and “I have created one before.” Finally, we will also know the difference between “I know an operations management documents” and “I have created one that works.” For more insights, check out this article.
#BusinessPolicy #StrategicPlanning #OperationsManagement #Leadership #Governance #GeorgeNwoguArt #ProjectManager #COO #GeorgeNWOGU #BIZVILLEPM 🌐🚀
George NWOGU is a Senior Project & Planning Manager, COO and Global Trainer from Nigeria. He is the Founder of Bizville Project Management Limited
Services from Bizville Project Management are:
- EPC, HSE, PMT & MGT Manpower Development and Training
- Strategic PMO Solutions
- Project Handling and Contract
- Property Sales and Construction Supplies (Including Labour Manpower Supply)
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