Business Policy Essay Example | Topics and Well Written Essays - 500 words

Business Policy - Essay Example It is thus dynamic in nature so that the organization earns above average returns (Hitt, Ireland and Hoskisson, 2001, p. 6). Strategic management is a broad canvas, which includes strategic analysis, strategic implementation and control. It encompasses all functional areas within an organization. This paper aims to address these issues in the context of finance and marketing. For evolving appropriate corporate policies, it is imperative to do a competitive analysis. This will be done by using the SWOT and Porters five forces. SWOT analysis helps to understand internal environment of the company in terms of its relative strengths and weaknesses, and also external factors in terms of opportunities and threat. Further, as the company intends to enter into emerging markets, its global competitiveness will be examined by using the model suggested by Porter (1985), which includes five competitive forces, which determine the competitiveness of a product in a market. These forces are industr y competitions, potential entrants, substitutes, byers, and suppliers.