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Although different businesses may have different policies any business policy has the same seven features A business policy must be specific clear uniform appropriate simple inclusive and stable Specific If a policy is not specific implementation becomes inconsistent and unreliable.

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Business policy refers to the roles and responsibilities of top-level management the significant issues affecting company-wide performance and the decisions affecting companies in the long run Corporate strategy is the strategy developed and implemented to the goals set by the company's business policy.

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