UNIVERSITY OF LAGOS

DISTANCE LEARNING INSTITUTE

STUDY GUIDE
TO

Bus 410

BUSINESS POLICY 1

Prepared by
Dr (Mrs) JOY C. IYIEGBUNIWE

THE STUDY OF BUSINESS PLOICY 1

BUS 410

Copyright
Copyright 2015 by Distance Learning Institute, University of Lagos, Akoka, Nigeria

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or
transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise,
without the prior permission of the copyright owner.

CONTENTS

Page

About this Study Guide

1.

Introduction (How the Course is Structured)

Course Overview

2.
a.
b.
c.
d.
e.
f.
g.
h.
3.
a.
b.
4.
a.
b.
c.
d.
e.
f.
g.
5.
6.
7.

Background to the Course

Course Aim
Course Content
Your Comment
Learning Outcomes
Total Time Frame for the Module
Study Skills
Study Sessions
Learning Support
General Learning Support
Academic Support
Module Delivery and Schedule ( Activities)
Working through the Module
Sessions Arrangements
Students Activities
Assignments
Assessment Details (TMA)
Final Assessment and Grading
Course Marking Scheme
Facilitators/Tutors and Tutorials
Summary
References

About this Study Guide

4
4
5
5
5
5
6
7
7
8
9
9
9
10
10
10
11
11
12
13
13
14
15
15

The Study Guide BUS 410 has been produced by University of Lagos, Distance Learning
Institute. All Business Administration Study Guides are produced by University of Lagos
Distance Learning Institute and are structured in the same way as outline bellow.

1.

Introduction

Business Policy 1 is considered an integrative course offered to students towards the end of a
degree programme to integrate what they have learnt in different core functional area courses
like accounting, marketing, and finance. It is a course of study that introduces you to a range of
knowledge, skills, and perspectives suitable to give students the opportunity to pool together
what they have learnt in the separate business fields and utilise this knowledge in the analysis of
complex business problems. The development of business policy as a field of

study closely followed the demands of real life business.

2.

Course Overview

The course, corporate policy may be defined as managements expressed or implied intent to govern
action in the pursuit of the companys objectives. The significances of policy are as follows:
I. Consistency of actions and decisions: Policies indicate how various actions should be taken
and thereby help to co-ordinate different units of the organisation to avoid in consistency and
incompatible actions and decisions.
2. Facilitation of delegation of authority: Policies are standby help for subordinates to make
decisions of a recurring nature rather than consulting their superiors frequently.
3. Policies speed up decision making by providing a framework within which decisions can be
taken.
4. Documentation of policies provides accumulated wisdom a company can pass from one
generation of executive to another.
It is also suitable for entrepreneurism.
You need to take prerequisite courses in the functional areas before taking this course, the basic
knowledge from secondary school is not enough to see you through.

You should expect to gain a lot in managing job and people at your place of work and properly
plan, organise and analyse the environment of your business properly. Putting proper structure
helps your organisation to produce effectively and efficiently. Most importantly, you will find it
easy to identify and analyse problems when they surface in your organisation because of the case
analysis this course will introduce you to.
You are expected to study each session before it is discussed at your next tutorial. This is to
enable you identify problem areas your tutor could clarify for you. For you to succeed in this
course, you need to invest enough time to study, because it takes time and practice to develop the
key study skills required. Also, you should make use of the supports that are provided by the
Distance Learning Institute. An important way of continually developing and improving your
academic skills is to make use of the feedback provided by tutors on assessments and
assignments submitted. The points of feedback provided by your tutors can be used to improve
future assignments. Should you need additional feedback at any stage, please contact us.
You are strongly advised that you read the overview carefully before starting your study
a. Background to the study
BUS 410 is a course of study that is concerned with the philosophies and continuing guidelines
on the approach the business firm intends to adapt in managing its functional activities in order
to grow and survive in perpetuity. It defines the premise upon which managers are expected to
act when carrying out the business functions. It provides reference points for management
programs and decisions. As a subject, business policy incorporates a wider array of related topics
such as analysing the environment, determination of mission, goals and objectives, formulation
of business strategy, organisational design and structure.It is a compulsory course required for
graduation for all Business Administration, and Accounting students of our great Institution.
b. Course Aim
The aim of corporate policy as a course is to teach students or managers of what guides top managers
and board of directors in their decisions and actions in moving the organizations forward. This course
will seek to incorporate related topics such as analysing the environment,

determination of mission, goals and objectives, formulation of business

strategy, organisational design and structure, in other to succeed in the
total environment of the business that could determine the direction of the
organisation and shape its future.

c. Course Content
7

The course is divided into three modules. The first module is made up of four study
sessions that discusses: the nature and scope of business policy; organisational vision,
mission, values and objectives; analysing the environment of business; evaluating
corporate resources (organisational analysis); and overview of the strategic management
process. The second module covers: the generic corporate (grand) strategies; generic
business strategies; strategic implementation and performance control; strategic
implementation as a change process, and evaluating corporate strategy. The third module
covers: the organisation structure and design; decision making process; corporate social
responsibility; business policy and management functions, and organic business
functions.
. Each study session comprises:
An introduction to the study session content.
Learning outcomes.
Content of study sessions.
A study session summary.
Assessments and/or assignment, as applicable.
On completion of this course, Business Policy 1, we would appreciate it if you would take a
few moments to give us your feedback on any aspect of this course. Your feedback might
include comments on:
Course content and structure.
Course reading materials and resources.
Course assessments.
Course assignments.
Course duration.
Course support (assigned tutors, technical help, etc).
Your general experience with the course provision as a distance learning student.

Your constructive feedback will help us to improve and enhance this course in future.
d. Learning Outcomes:
At the end of this course, Business Policy 1, you should be able to:
8

Explain the nature and scope of business policy.

Explain organisational vision, mission, values and objectives.

Analyse the environment of business of an organisation.

Describe how to evaluate corporate resources (organisational analysis).

State the overview of the strategic management process.

Discuss the generic corporate (grand) strategies.

Explain the generic business strategies.

Discuss the strategic implementation and performance control of an

organisation.

State the strategic implementation as a change process.

Develop ability to evaluate corporate strategy.

Discuss the organisation structure and design;.

Summarise decision making process.

Explain corporate social responsibility of a firm.

Discuss the business policy and management functions, and

Explain organic business functions.

e. Total Time Frame for the Course

This course is for one session and usually taken in the fourth year when students must have
settled down in their specialisation areas. It is a three unit course and required eight (8) hour
tutorial time. However, you may give yourself any desired time period for self-study.
f. Study Skills
Business Policy 1 is designed to support you in developing new analytical skills. You
must bear in mind that your lecturer will not always be in your class to teach you face to
face as in conventional mode of learning. As such, you need to develop a self study skill
to help yourself. You need to motivate yourself, set your goal, and identify the objectives
that will help you to achieve the goal. You must determine the right time and the
environment that will be suitable to study without distractions from domestic and family
issues. It takes time and practice to develop the key study skills and you should make use
9

of the web links and various supports that are provided by the Distance Learning
Institute. An important way of continually developing and improving your academic
skills is to make use of the feedback provided by tutors on assignments submitted. The
points of feedback provided by your tutors can be used to improve future assignments.
Should you need additional feedback at any stage, please contact us.

g. Study Sessions
This study guide should be read in conjunction with the Module textbook in print by same
authors, which will be provided to all students. The following topics are covered in various
sessions of the modules.
MODULE 1:
Study Session 1: Nature and scope of business policy.

(38 mins)

Study Session 2: Organisational vision, mission, values and objectives. (38 mins)
Study Session 3: Analysing the environment of business of an organisation.
(38 mins)
Study Session 4: Evaluating corporate resources (organisational analysis).
Study Session 5: Overview of the strategic management process.

(38 mins)

(38 mins)

MODULE 2:
Study Session 6: Generic corporate (grand) strategies.

(36 mins)

Study Session 7: Generic business strategies.

(36 mins)

Study Session 8: Strategic implementation and performance control of an

organisation.
(36 mins)
Study Session 9: Strategic implementation as a change process.
(36 mins)
Study Session 10: Evaluate corporate strategy
(36 mins)
MODULE 3:
Study Session 11: Organisation structure and design.
Study Session 12: Decision making process.
Study Session 13: Corporate social responsibility.
Study Session 14: Business policy and management functions,
Study Session 15: Organic business functions.

(38 mins)
(38 mins)
(38 mins)
(38 mins)

(38 mins)

3. Learning Supports
This study guide and the module text are the key relevant materials for studying the course.
Each topic provides you with a 'road map' to guide you through the module. You are also
10

expected to attempt the online activities on the Learning Management System (LMS) as they will
determine your understanding of the individual topics. Online discussions and collaborations are
additional vital parts of the learning support tools. They give you the opportunity to express your
understanding and application of the topics under discussion in practice. Furthermore, you
benefit from the experiences and insights of your peers challenging their own perspectives and
actions.
a. General Learning Support
You have the privilege of having a group of Information Assistance Guidance (IAG) that
you can talk to about any issue that concerns you as a student. They are your counselors
and their contacts are as follows:
Counselors
(1) Fashina, A. Y. Ph.D

email

Telephone

yfashina@unilag.edu.ng

(2) Modebelu, O. A. Ph.Demodebelu@unilag,edu.ng

08034753244
08034118982

(3) Adegun, A. O. Ph.D

aadegun@unilag.edu.ng

08034434317

(4) Jibokun, A. O. Ph.D

ajibokun@unilag.edu.ng

08033787520

You also have some Institution Support Staff that are always ready to answer any
question you might have about this school. Their contacts are as follows:
(1) Elizabeth

eolugbade@unilag.edu.ng

01-2930910

(2) Deji

aiseyemi@unilag.edu.ng

08066726947

b. Academic Support
A Course facilitator is commissioned for this course. You have also been assigned an academic
advisor to provide learning support. The contacts of your course facilitator and course adviser for
this course are available below:

c. Course Facilitator: DR. Oluwafemi, O.

Office:

Department of Business Administration

Faculty of Business Administration
University of Lagos
11

Akoka.
Telephone:

08033337877

d. Other Academic Support:

2. Name:
Office:

Prof. Kuye. O. L
Department of Business Administration
Faculty of Business Administration
University of Lagos
Akoka.

Telephone:
3. Name, (In DLI)

08033213491
Dr (Mrs) Iyiegbuniwe, J. C.

Office:

DLI Building, Top Floor, Room T06

Office Hours:

8.00am 6pm Monday - Friday

Email:

jiyiegbuniwe@unilag.edu.ng

Telephone:

0802 318 1565

4. Name:
Telephone:

Dr. (Mrs) Ifekwem. N.

08033253217

You are free to contact any academic member of this course.

e.

Current Course Adviser (B. Admin): Dr. (Mrs) Iyiegbuniwe, J. C. 08023181565

(Accounting): Dr Adelowotan M. O.

08023032304

The current course adviser is subject to change yearly for your class.

4. Module Delivery Schedule

a. Working through the Module

12

To benefit maximally from this course, you are required to read each study sessions very well,
read the text books and other materials, as recommended at end of each study sessions.
Each study session contains self-assessment questions and at certain points in the course you
would be required to submit assignments for assessment purposes. At the end of the course, there
is final examination. The course should take you about a total of 15 weeks to complete. This
course entails that you spend a lot of time to read. I would advise that you avail yourself the
opportunity of attending the tutorial sessions where you have the opportunity of comparing your
knowledge with that of other people.
b.

Session Arrangements

You are to study and prepare for all sessions. The study sessions are divided into weekly format
as displayed on the LMS. The module delivery relies on your ability to engage in prior
preparation, to seek confirmation and clarification as appropriate and to be actively engaged
during the session. You are expected to study and be prepared for all sessions. The study sessions
are divided into weekly format as will be seen on the LMS.
At the end of every session, you will be asked to provide feedback on this module through an
online evaluation that will be sent to your email account. The gathering of such feedback is an
important part of our quality assurance and accreditation processes and you are encouraged to
complete these evaluations.

c. Students Activity
In addition to the module assignments, you are expected to have read the
study sessions in advance of online facilitations. You are to study and prepare
for all sessions. The study sessions are divided into weekly format as
displayed on the LMS.
The module has various activities ranging from reading, case studies, and
discussion activities, based on learning outcomes and nature of content. You
will be provided with answers to every activity question. You should try to
understand your answer and their correctness.
Some Study Sessions comes with discussion topics. You may discuss the
Study Sessions at respective discussion boards on the LMS. You may also see

13

dates for active discussion with tutor on course schedule. This course
schedule is available on the LMS.
During the sessions, you are expected to discuss issues arising from the
study. Session participation is a vital element in the design of this module. To
support your learning, Power-Point slides will be available which (on certain
occasions) may need to be upgraded / modified during or following the
sessions depending on the issues raised.

d. Assignments
Assignments are expected to be turned-in on LMS. You may also receive Tutor Marked
Assignments (TMAs) as part of online class activities. Feedbacks to TMAs will be provided by
your tutor in not more than 2-week expected duration. Schedule dates for submitting
assignments and engaging in class activities are available on the LMS. Kindly visit LMS often
for updates.
You are advised to do the exercises. In tackling the assignments, you are expected to apply
information, knowledge and techniques you gathered during the course. The assignments must
be submitted to your facilitator for formal assessment in accordance with the deadlines stated in
the presentation schedule and the assignment file. The work you submit to your tutor for
assessment will count for 30% of your total course work. At the end of the course you will need
to sit for a final or end of course examination of about three hour duration. This examination will
count for 70% of your total course mark.

e. Assessment
There are three aspects to the assessment of the course. First is made up of self-assessment
exercises, and they are the ITQs and the SAQs. The second consists of the tutor-marked
assignments (TMA) and third is the written examination/end of course examination.
In-Text Questions (ITQ) and Self-Assessment Questions (SAQs) are usually followed by their
answers, the In-Text Answers (ITAs). It affords you to check your learning by answering
correctly. Incorrect answers alert you about what to study again. Correct answers say what a
good student could really write based on material in current or previous study sessions.
The ITQ is meant to:

engage you in active thinking

14

give you a brief mental break from passive reading

focus your attention on a key point in the study session

remind you of a key point from a previous session

break up large blocks of text that may look intimidating to you

SAQs appear at the end of the study session. The model answers are hidden but they appear at
the end of the Module. Answering SAQs enable you to check your own progress in achieving the
Learning Outcomes.

f. Tutor-Marked Assignment (TMA)

The TMA is a continuous assessment component of your course. It accounts for 30% of the total
score. You will be given four (4) TMAs to answer. Three of these must be answered before you
are allowed to sit for the end of course examination. Continuous Assessment Tests for
this course could include: Essay writing and/or multiple choice questions,
which could come in form of Computer Marked Assignments, and/or Tutor
Marked Assignment.
The TMAs would be given to you by your facilitator and must be returned after you have done
the assignment. Assignment questions for the units in this course are contained in the assignment
file. You should be able to complete your reading, references and study sessions before final
examination. However, it is desirable in all degree level of education to demonstrate that you
have read and researched more into your references, which will give you a wider view point and
may provide you with a deeper understanding of the subject.
Make sure that each assignment reaches your facilitator on or before the deadline given in the
presentation schedule and assignment file. If for any reason you cannot complete your work on
time, contact your facilitator before the assignment is due to discuss the possibility of an
extension. Extension will not be granted after the due date unless there are exceptional
circumstances.

5.

Final Assessment and Grading

15

The end of course examination for BUS 320 will be for about 3 hours and it is 70% of the total
course work. The examination will consist of questions, which will reflect the type of selftesting, practice exercise, self Assessment Questions (SAQs), In-Text Questions (ITAs) and tutormarked assignment problems you have previously encountered. Use the time between finishing
the last study session and sitting for the examination to revise the whole course. You might find it
useful to review your Self Assessment Questions (SAQs), In-Text Questions (ITAs), TMAs and
comments on them before the examination. The end of course examination covers information
from all parts of the course.
a. Course Marking Scheme
Assignment
Assignment 1 4

Marks
Four assignments will be given; best three marks of the four
will be taken at 10% each making a total of 30% of course

End of course Assessment

Total

marks.
70% of overall course marks is assigned to examination.
100% of course materials.

4.1 Facilitators/Tutors and Tutorials

There are 16 hours of tutorials provided in support of this course. You will be notified of the
dates, times and location of these tutorials as well as the name and phone number of your
facilitator, as soon as you are allocated a tutorial group.
Your facilitator will mark and comment on your assignments, keep a close watch on your
progress and any difficulties you might face and provide assistance to you during the course. You
are expected to deploy your Tutor Marked Assignment on the LMS to your facilitator before the
schedule date (at least two working days are required). They will be marked by your tutor and
returned to you as soon as possible.
Do not delay to contact your facilitator by telephone or e-mail if you need assistance.
The following might be circumstances in which you would find assistance necessary, hence, you
would have to contact your facilitator if:

You do not understand any part of the study or the assigned readings.
You have difficulty with the self-Assessment Questions.
16

You have a question or problem with an assignment or with the grading of an assignment.

You should attend the tutorials. This is the only chance to have face to face contact with your
course facilitator and to ask questions which are answered instantly. You can raise any problem
encountered in the course of your study.
To gain much benefit from course tutorials prepare a question list before attending them. You
will learn a lot from participating actively in discussions.

Caution

Cheating is not allowed and will attract penalties, such as:

a deduction of marks,
failure in the course, and/or
referral to the Open Distance Learning Disciplinary Committee.
6. Grading
Your programme is designed with courses which are weighted and classified into various
levels. Courses are assigned units depending on the volume of work required to complete
the course. This section is designed to acquaint you with the alphabets representing your
final grade in this course. It is necessary to first recognize and be thoroughly familiar
with certain ranges that are commonly used in arriving at your grade. These are defined
as follows:
A

B
C
D
E
F
7.

(70-100%)
(60-69%)
(50-59%)
(45-49%)
(40-44%)
(0-39%)

5 points
4 points
3 points
2 points
1 point
0 point

Summary

You must create time to study on your own without distraction, think deeply over what you have
read, go through the self-Assessment question (SAQs), In-Text Questions (ITAs) and TMA
provided in each study sessions. You will definitely appreciate taken this course. Good luck.
References: You are therefore referred to end of study session reference for more materials of
study if need be.
17

18