Basic Concepts, Laws, and Principles. TOPICS DISCUSSED. The need to study electrical and electronics engineering. Behaviour of materials as conductors, semiconductors, and insulators. Concept of current, resistance, potential, and potential difference. Differences between electric field and magnetic field.
Definition of business policy. 1  1. Definition of Business PolicyBusiness Policy defines the scope or spheres within which decisions can be taken by thesubordinates in an organization.2  2. 8. 3  3. 5) The purpose of a business policy is to enable the management to relate properly theorganizationâs work to its environment.efinition of business policy. 1  1. Definition of Business PolicyBusiness Policy defines the scope or spheres within which decisions can be taken by thesubordinates in an organization. 2  2. 8. 3  3. 5) The purpose of a business policy is to enable the management to relate properly theorganizationâs work to its environment.
A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-term business planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer). A business strategy is concerned with major resource issues e.g. raising the finance to build a new factory or plant. Strategies are also concerned with deciding on what products to allocate major resources to - for example when Coca-Cola launched Pooh Roo Juice in this country.