Business policy and strategy are central to the success and sustainability of any organization. They guide decision-making, set the direction for growth, and determine how a company competes within its industry. This review article explores key concepts, frameworks, and applications of business policy and strategy. It examines the evolution of strategic management, highlights major strategic models, and discusses the importance of aligning business policies with strategic goals. Additionally, it explores the current trends in business strategy, including digital transformation, innovation, and competitive advantage in the global market.