What are the types of business policies?
Business policies are the guidelines formulated by an organization to govern its actions. They define the limits and the scope within which decisions must be made by the subordinates.
What is the meaning of business policy?
Lowi proposed four types of policy, namely distributive, redistributive, regulatory and constituent in his article "Four Systems of Policy, Politics and Choice" and in "American Business, Public Policy, Case Studies and Political Theory".
What are the various types of policies?
A business policy outlines which decisions the employees can take themselves and which decisions require approval or input from the manager. This decreases the breaks in the work process because the employees don't have to wait for their busy manager's time unless it is absolutely needed.
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