Definition: are people who have the authority to set plans, policy frameworks, and decisions that are pursued by a business. Ordinarily, members of the board of directors are the main policy makers within a certain company. Policy makers are important members of a business working team, whose opinions and actions significantly influence the business’s direction and its course of events. The major role of each business policy maker is optimizing and stabilizing the business framework. While being able to control numerous processes and areas of business, policy makers also bear the most significant responsibility in case of a collapse or a failure.
In a Sentence:
The main job of policy makers is coming up with right decisions, even though this task is incredibly hard.
After implementing a new business strategy, policy makers will examine its efficiency and come up with a new one if needed.
Understanding the potential impact of their decisions, company’s policy makers take all of the factors into consideration before suggesting a new plan.
Synonyms and related words: policymaking, policy framework, policy, business policy, board of directors, policymaking committee