Business Policy And Strategy Course Code: Fms


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NATIONAL OPEN UNIVERSITY OF NIGERIA
FACULTY OF MANAGEMENT SCIENCES
BUSINESS POLICY AND STRATEGY COURSE CODE: FMS 427
COURSE TITLE: BUS 406: ANALYSIS FOR BUSINESS DECISIONS
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COURSE MATERIAL DEVELOPMENT

Course Code Code Title

FMS 427 Business Policy and Strategy (3 credits units)

Course Team: Mr. Aliyu A. Hamza (Developer/Writer) NOUN Dr. Samaila Mande (Content Editor) NOUN Dr.Yemisi Ogunlela(HOD Administration FMS) NOUN Mrs. Ihuoma Ikemba-Efughi (Coordinator)NOUN

COURSE GUIDE
1.0 INTRODUCTION
FMS 427 Business Policy and Strategy is a first semester, course of 3 units for 400 level students of Bachelors‘ degree of Business Administration which serves as elective for all undergraduate programme of the Faculty of Management Sciences. This course consists of sixteen units. The material has been developed to suit students for their learning process and prepare them as potential or active entrepreneurs. This course guide tells you briefly what the course is about, what course materials you will be using and how you are to use them. It provides some general guidelines for the amount of time you might be spending in order to successfully completed each unit of the course.
2.0 COURSE AIMS
The aim of this course is to explain business and identify it as the basis for guiding the management and organization of an enterprise
3.0 COURSE OBJECTIVES
By the end of this course, the student should be able to:
Understand the basic considerations in business policies Understand the functions and responsibilities of an enterprises general management unit Identify problems associated with the management of an enterprise
Understand the design and implementation of corporate strategies
4.0 WORKING THROUGH THE COURSE
This course, FMS 427 Business Policy and Strategy expects you to do a lot of reading in order to cover the materials in the course material. It implies that you should devote much time to this course by reading through this material and getting more information from numerous texts and journals in research. The course material has been made easy to read and user-friendly.
To complete this course you are required to read the study units in each module, read also the suggested full books and other materials that will help you achieve the objectives. Each unit contains self-assessment exercises and at intervals in the course you are required to submit assignment for assessment. There will be a final examination at the end of the course.
5.0 COURSE MATERIALS
The National Open University of Nigeria provides you with the following items:
Course Guide Study Units
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In addition, at the end of every unit is a list of texts for your references and for further reading. It is not compulsory for you to read all of them. They are only essential supplements to this course material.
6.0 STUDY UNITS

The study units in this course are located under Modules as follows:

MODULE 1 BASICS ABOUT BUSINESS POLICY

Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 6 Unit 7

Business Policy – Definition and Discussion of Concepts Evolution of Business Policy as a Discipline Characteristics of Policy Kinds/Types of Policies Nature, Objectives and Purposes of Business Policy Organizational Policies Functions and Responsibilities of Business Policy in management

MODULE 2 CONCEPT OF CORPORATE STRATEGY AND MANAGEMENT

Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 6

Concept of Corporate Strategy Strategy Decision Making Process of Strategic Management Overview of Strategic Management Historical Development of Strategic Management Hierarchy of Strategic Intent

MODULE 3 STRATEGY FORMULATION

Unit 1 Unit 2 Unit 3 Unit 4

Basic Models of Strategic Management Environmental Appraisal Organizational Appraisal Hierarchical Levels of Strategy

MODULE 4 CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY

Unit 1 Unit 2 Unit 3 Unit 4

Corporate Governance: Role of the Board of Directors Corporate Governance: Role of the Top Management Social Responsibilities of Strategic Decision Makers Ethical Decision Making

MODULE 5 INTRODUCTION TO CASE STUDIES/ANALYSIS

Unit 1 Unit 2

Methodologies for Case Studies Case Studies

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The modules and units are self- explanatory as they summarize Business Policy for 400 level students of Bachelors‘ degree of Entrepreneurial and Business Management. You will need to work in groups with other students in this course and program in order to discuss, compare notes and thoughts in order to exchange and share ideas.

7.0 ASSESSMENTS

There are two aspects to the assessment of the course: first are the tutor-marked assignments (TMA); and the end of course examination. Within each unit are self- assessment exercises which are aimed at helping you check your assimilation as you proceed. Try to attempt each of the exercises before finding out the expected answer from lecture.

8.0 TUTOR-MARKED ASSIGNMENT (TMA)

This is your continuous assessment and accounts for 30% of your total score. You are expected to answer at least four TMA‘s, three of which must be answered and submitted before you sit for the end of course examination. Your Facilitator will give you the TMA‘s and you must submit to your Centre your responses.

9.0 FINAL EXAMINATION AND GRADING

With this examination written successfully, you have completed your course in Basic Research and one believes you would apply your knowledge (new or up-graded) in your project. The ‗end of course examinations‘ would earn you 70% which would be added to your TMA score (30%). The time for this examination would be communicated to you.

Table 1: Course Marking Scheme ASSESSMENT Assignment (TMAs) 1 – 4
End of course examination Total

MARKS Four (4) assignments, best three (3) marks of the four account at 10% each = = 10 x 3 = 30% 70% of overall course marks 100% of course marks

10.0 HOW TO GET THE MOST FROM THIS COURSE

In distance learning, the study units are specially developed and designed to replace the conventional lectures. Hence, you can work through these materials at your own pace, and at a time and place that suits you best. Visualize it as reading the lecture.

Each of the study units follows a common format. The first item is an introduction to the subject matter of the unit, and how a particular unit is integrated with the other units and the course as a whole. Next is a set of learning objectives. These objectives let you know what you should be able to do by the time you have completed the unit. You should use these objectives to guide your study. When you have finished the unit, you must go back and check whether you have

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achieved the objectives. If you make a habit of doing this, you will significantly improve your chances of passing the course.
The main body of the unit guides you through the required reading from other sources. This will usually be either from your set books or from a Reading Section.
Activities are interspersed throughout the units, and answers are given at the end of the units. Practice these self-assessment exercises to help you to achieve the objectives of the units and prepare you for the assignments and the examinations. Keep tap with your facilitator for assistance.
In summary:
Try to read this course guide.
Organize a study schedule.
Do everything you can to stick to the schedule.
Assemble the study materials.
Work through the unit. The content of the unit itself has been arranged to provide a sequence for you to follow. As you work through this unit, you will be instructed to read sections from your set books or other further readings.
Review the objectives for each study unit confirms that you have achieved them. If you feel unsure about any of the objectives, review the study material or consult. When you are sure of having achieved a unit‘s objectives, you can then start on the next unit.
After completing the last unit, review the course and prepare yourself for the final examination. Check that you have achieved the unit objectives and the course objectives.
To gain the maximum benefit from course tutorials, prepare a question list before attempting them.
11.0 SUMMARY
This course FMS 427 is designed to give you some knowledge which would help you to understand Analysis of Financial Statement of business enterprise Endeavour to go through this course successfully and you would be in a good position to pass your examination at the end of the semester
We wish you success in this life-long and interesting course. GOOD LUCK.
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COURSE DESCRIPTION AS IN THE OPP/DPP Type of business policies; business policy as a field of study; functions and responsibilities of general management; the concept of corporate strategy; concept of strategy in relation to business, corporations and management; linkages between organization and their environments; introducing a formal strategic planning system in a business firm; concepts of policies, decision making, business objectives, performance, criteria, structure and managerial behaviours; practice in calculating simple financial and economic indices from business data and other accounting information; learning opportunities and threats, strength s and weaknesses of business system
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COURSE MATERIAL DEVELOPMENT

Course Code Code Title

FMS 427 Business Policy and Strategy (3 credits units)

Course Team: Mr. Aliyu A. Hamza (Writer/Developer) NOUN Dr. Samaila Mande (Content Editor) NOUN Dr. Ibrahim Idrisu (Programme Leader) NOUN Mr. Anthony I. Ehiagwina (Coordinator) NOUN

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MODULE 1 BASICS ABOUT BUSINESS POLICY

Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 6 Unit 7

Business Policy – Definition and Discussion of Concepts Evolution of Business Policy as a Discipline Characteristics of Policy Kinds/Types of Policies Nature, Objectives and Purposes of Business Policy Organizational Policies Functions and Responsibilities of Business Policy in management

MODULE 2 CONCEPT OF CORPORATE STRATEGY AND MANAGEMENT

Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 6

Concept of Corporate Strategy Strategy Decision Making Process of Strategic Management Overview of Strategic Management Historical Development of Strategic Management Hierarchy of Strategic Intent

MODULE 3 STRATEGY FORMULATION

Unit 1 Unit 2 Unit 3 Unit 4

Basic Models of Strategic Management Environmental Appraisal Organizational Appraisal Hierarchical Levels of Strategy

MODULE 4 CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY

Unit 1 Unit 2 Unit 3 Unit 4

Corporate Governance: Role of the Board of Directors Corporate Governance: Role of the Top Management Social Responsibilities of Strategic Decision Makers Ethical Decision Making

MODULE 5 INTRODUCTION TO CASE STUDIES/ANALYSIS

Unit 1 Unit 2

Methodologies for Case Studies Case Studies

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MODULE 1 BASICS ABOUT BUSINESS POLICY

Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 6 Unit 7

Business Policy – Definition and Discussion of Concepts Evolution of Business Policy as a Discipline Characteristics of Policy Kinds/Types of Policies Nature, Objectives and Purposes of Business Policy Organizational Policies Functions and Responsibilities of Business Policy in management

UNIT 1 BUSINESS POLICY – DEFINITION AND DISCUSSION OF CONCEPT

TABLE OF CONTENTS

1.0 Introduction 2.0 Objectives 3.0 Main Content
3.1 Definition of Policy 3.2 Definition of Business 3.3 Nature of Policy 3.4 Characteristics of Policy 3.5 Objectives of Business Policy 4.0 Conclusion 5.0 Summary 6.0 Tutor Marked Assignment 7.0 References/Further Reading

1.0 INTRODUCTION

Every organisation has a purpose for which it was established – either for profit making or nonprofit making, and closely allied to the purpose of an organisation are the principles on which it is to be conducted. These principles in business parlance are commonly called “Policy”. Policy, according to Kalejaye (1998), denotes a future course of action of intent towards the activities of an organisation.

He opined that there is more to the meaning of policy than an expression of intent. To him, there is usually the connotation that policies should express the beliefs of the organisation, the things that are right to do and the courses of action which it ought to take in the organisation. This explains why policies on the same subject can be so different from one organisation to another.

Every business requires guidelines which are to be embedded in policy. Policy is a decision rule, not a decision (Ackoff 1993). Principles in business parlance are commonly known as policy. Policy denotes a future course of action of intent towards the activities of an organization.
In this unit, you will be introduced to the meaning of business policy in order to prepare you for all the associated ideas about the concept in business management. We shall also highlight the

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Business Policy And Strategy Course Code: Fms