LEVELS OF POLICIES
-Refers to managerial hierarchies and which policies are formulated ,implemented, monitored, evaluated and controlled to achieve uniformity or standardization in whatever decision /actions management takes we have three levels.
- Business >policies
a)corporate level ,the top management team of a company will formulate ,implement monitor,evaluate and control the overall policies of a firm < corporate policies>
corporate policies are those policies that governs the actions & decision of the corporate management which deals with the way the company behave in relations to the external stake holders.
Corporate management /corporate leaders
Example of corporate policy-
-In the 1980’s W.B had a corporate policy ‘our policy is nit to grant or to give or donate any financial assistance to countries with oppressive regimes.
a)Business level ,the divisional mgrs < S.B.U> MGR formulate ,implements,monitors,evaluates & controls business policies ;business policies are those policies that governs mgrs actions & decisions on
a)How to formulate strategies for completion
b)How to invest business resources of a company
These are policies that reflects day to day decisions that have been made in advance by the department heads such as human resource management ,finance & accounting management,purchasing and supply management ,IT management ,manufacturing management,marketing and sales management,research and development management.
i)Specify how tasks/jobs are to be performed ,the rules and regulations to be followed the procedures and the management of time and general behaviors of employees when performing the dept, functions.
Examples:the human resource department
i)Training & development policies
ii)Recruitment and selection policies
iii)Anti drug abuse,substance policies
- iv) HIV & aids policies
- Sexual harassment policies
vi)anti smoking policies
The financial dept. policies < Accounting dept>
i)Expenditure approval policies
ii)Financial reporting and publication policies
iii)Budgeting allocation policies
iv)Petty cash policies
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