Why should business have policies?

[Mikes smithen]

Policy by description and definition refers to a body of rules or a list of objectives which a particular business wishes to partake or to undertake towards making decisions and carrying out good judgments about the business sales profit and liability.

There are so many reasons why a business should develop policies but two of the most important reasons for businesses to develop policies is that is give them a sense of direction as to where the business is presently and where it will be in the future. It also help a business organization to be able to find, monetize, and also harness available resources can also be able to fund for future business resources.

 

[Etini]

A business must have policies because it is that policy that would guide their operations. It is like a manifesto for a politician. Their policies put them on a path and defines the things they can do and can't do. A business policy would help to define how customers relate with the business. It also defines how staff act while giving the business an identity.

It is one thing though for a business to have policies and another thing for a business to follow it's policies. For some businesses, their policy document is intimidating but none of them are kept. I strongly believe that having a policy and sticking to it would help define a business.

 

[Axis]

A business organization should be able to make policies especially for so many reasons and for so many effects and impact which the policy will bring to the business organization. For one reason the existence of policy in a business organization gives a business organization is sense of direction and a sense of motive. It also helps a business organization to subject its performance to the best of reality, also with the existence of policy in a business organization a business would be able to have a yardstick for measuring performance with actual targets or goals and objectives. By description and definition we can say that policy is a body of rules and regulations and possible objectives which a business might undertake.