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For many years, Nigerian students have had to largely depend on old imported books in the areas of business policy and strategy. While most of the books were written by foreign authors, this is a modest attempt to complement the efforts of earlier local authors in these important areas in business operations and management. Business policy deals with the acquisition of resources with which organization goals can be achieved. It is the study of the roles and responsibilities of top management, the significant issues affecting organizational success and the decisions affecting the organizations in the long-run. An effective business policy must be specific, clear, reliable, uniform, appropriate, simple, flexible, and stable. A business policy should be stable otherwise it will lead to indecisiveness and uncertainty in the minds of those who look to it for proper guidance.