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The purpose of this study is to seek the measures for improving the business management system centering around the management by business policy focused on the aspect of business innovation. In the bibliographical study, the significance, basic concept and operating system of the management by business policy were analyzed, while the problems and effect of this system were grasped. Furthermore, by the mutual comparison and integration of the theories on management by business policy, management by objectives, business strategy plans and management information system the direction the system of management by business policy as an integrated business management system is to follow was searched.