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 philosophy is a set of beliefs and principles that a company strives to work toward. This is often referred to as a mission statement or company vision. It's essentially the companyâs operational blueprint. The business philosophy explains the company's overall goals and its purpose. The philosophy also outlines the values that are important to the company. As a business entity, a company's philosophy is a reflection of the values of its leaders.