Changing Business Enviroments Essay Example | Topics and Well Written Essays - 2500 words

Changing Business Enviroments - Essay Example in the changing environments and argues that policies and practices have to keep pace with changing times and aspirations of the people. A policy focuses on a desired goal through a statement of intention. For example, a policy may state that inflation will be controlled to a level of 3% or that fiscal deficit will be contained to within 1% of gross national product, or that carbon emissions from power plants shall be reduced by 15%, during a particular period. Similarly, an automaker may declare a policy of achieving 75% level of outsourcing for its components, or business expansion through acquisitions etc. Thus policies, whether declared by a government or by a business, are statements of intention for achieving specific objectives, and act as beacons for concerned executives to follow up with appropriate actions. In Policy Analysis: A Political and Organizational Perspective William Jenkins states that a policy is ‘a set of interrelated decisions taken by a political actor or group of actors concerning the selection of goals and the means of achieving them within a specified situation where those decisions should, in principle, be within the power of those actors to achieve’(Jenkins, 1978). Thus while it is the prerogative of governments to set public policies, governments are goaded into action by the public while for a business it is the specified situations that trigger policy decisions. According to Miyakawa, a public policy is a culmination of a process - a process that examines various options for possible course of action on any specific issue for which there is a public demand, and these issues and demands generally arise out of the prevailing socio-economic situations (Miyakawa, 1999, Science of public policy, Part 12, p.3). Evaluation of options will lead to selection of a policy, implementing plan of actions in order to the achieve the objectives, and monitoring the results