Organizational Policy

From GM-RKB
Jump to navigation Jump to search

An Organizational Policy is a statement or a set of rules that has been implemented as a protocol or procedure.



References

2021

  • (Wikipedia, 2021) ⇒ https://en.wikipedia.org/wiki/policy Retrieved:2021-1-8.
    • A policy is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both subjective and objective decision making. Policies to assist in subjective decision making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result are often hard to test objectively, e.g. work–life balance policy. In contrast policies to assist in objective decision making are usually operational in nature and can be objectively tested, e.g. password policy.

      The term may apply to government, public sector organizations and groups, as well as individuals. Presidential executive orders, corporate privacy policies, and parliamentary rules of order are all examples of policy. Policy differs from rules or law. While law can compel or prohibit behaviors (e.g. a law requiring the payment of taxes on income), policy merely guides actions toward those that are most likely to achieve a desired outcome. Policy or policy study may also refer to the process of making important organizational decisions, including the identification of different alternatives such as programs or spending priorities, and choosing among them on the basis of the impact they will have. Policies can be understood as political, managerial, financial, and administrative mechanisms arranged to reach explicit goals. In public corporate finance, a critical accounting policy is a policy for a firm/company or an industry that is considered to have a notably high subjective element, and that has a material impact on the financial statements.

2019

  • https://www.powerdms.com/blog/corporate-policies-procedures/
    • QUOTE: Why do you need corporate policies and procedures? They serve several purposes, with the overarching goal of protecting employees’ rights and safeguarding the company’s business interests.

      A corporate policy spotlights the “why” behind employees’ jobs and defines how to measure success. It gives some guiding principles for decisions and actions.

      A company procedure ensures employees know specifically how to carry out the policy, which keeps the organization running smoothly.

      Together, corporate policies and procedures provide guidance; ensure compliance with federal, state, and local laws; decrease liability; streamline operations; promote a safe work environment; and encourage consistency.