Explain the differences between strategy and policy. (3 marks)
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Basis of Difference | Policies | Strategies |
|---|---|---|
Meaning | Policies are general guidelines that direct the efforts of all individuals in a common direction. | Strategies are comprehensive plans that provide broad contours to accomplish the desired goals. |
Nature | They are rigid and permanent in nature. | They are flexible and temporary in nature. |
Focus | Focus is on carrying out the routine functions in a prescribed manner. | Focus is mainly on defining the long term scope of business and solving problems. |