POLICY for policy formation where the Manager/ CEO/

Topics: BusinessDecision Making

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Last updated: September 15, 2019

POLICY Policy is a set of basic principlesand associated guidelines, formulated and enforced by the governing body of anorganization, to direct and limit its actions in pursuit of organizationalgoals.

What are Policies Policies are a type of:                         A governing tool                                Aframework Policies provide guidelinesand a framework for the organization. Policies should be formed with the consultationof all relevant members/employees, discussion debate and shared experiences. Policyis a fundamental tool of any organization and must be held in the shape of “PolicyManual” which must be available to all sectors of the organization. Policiesshould not be made and implemented to react to a current situation or challenge.They should be formed and implemented proactively so that when a challengearises, they can be referred to for guidance. The governing body, whether it shouldbe the management committee, executive, or board, should formulate policy.

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Thebody is responsible for the stewardship of the organization and is responsiblefor policy formation where the Manager/ CEO/ Executive officer is responsiblefor the implementation of the policy. Polices do not have to be lengthy, wordydocuments – sometimes a one paragraph statement is sufficient. IMPORTANCE OF POLICIES Policies are formed as a “directives”for decision making. It should be subject to much consultation and discussionbefore implementation. Policies act as a safety-net for any organization andshould be given more importance. Policies can be of different types. ForExample: Complaints Procedure – What avenues are availablefor staff, volunteers or clients to express concerns or lodge complaints? SafetyPolicy: How safety of the employees will be ensured. Employment Policy: How employees will berecruited.

 FinancialManagement Policies: How firm’s finances will be provided, who will have the authorityto sign the cheques etc DismissalPolicy:  termination of employment Conflictof Interest Policy: for Board Members Sexualand Racial Harassment Policies Organizations can make specific policies as per their requirements

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