What is a Policy?

There are different types of Policies and each is designed to meet its specific goals. The major Policies which are related to corporate sector include Finance Policy, Environment Policy, Education Policy, Health Policy, Insurance Policy, Energy Policy, Waste Management Policy and Human Resource Policy, etc.

In Corporate Sector Policy is decided and implemented generally by some higher officials like the Board of Directors or by some Government agencies for the welfare of each and every individual either directly related or indirectly related to the industry.

There are different regions for which policies come into existence like: -
(a) To comply with the Accreditation Standards.
(b) To maintain the quality standards in an organization.
(c) To work according to the Government rules and regulations.
(d) To take commonly accepted decision in the same type of situations and thus an effective tool for avoiding conflicts.
(e) To create an excellent corporate image in the public or customers.
(f) To create the interest of staff members and thus increasing the productivity of the company and many more.