A policy is a formal, written guideline or principle set by Top Management that outlines the approach an organization takes to address specific market or business issues, situations, or areas of operation.

It provides a clear framework for decision-making, ensuring consistency, fairness, and alignment with Top Management’s goals, values, and legal or regulatory requirements.

Policies are usually designed to guide behavior, establish procedures, and manage risks within an organization.

Policies are there to keep Top Management out of prison, out of trouble and guiding the staff to an efficient business.