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The company I am currently working for has a very simple policy. All air travel is in economy. This is regardless of distance travelled, and seniority in the company.
My previous company had a policy of business travel was only permitted for flights over 7 hours for all staff. However, there was scheme that if anyone travelled economy on flights over 7 hours they could claim a $750 cash incentive. Most of the junior staff took advantage of this. I travelled Business !
Another company I worked for had a policy of everyone travelled economy, but the 10 most senior executives were automatically upgraded by the company travel agent on long haul flights with BA & United. I did see one of these execs in economy on a KLM flight to the US !