Developing Policies

Question 1

A broad guideline for decision-making
that links the formulation of strategy with its
implementation.

Answer 1

Policy:

Question 2

When crafted correctly, an effective policy
accomplishes three things:

Answer 2

It forces trade-offs between competing
resource demands.
It tests the strategic soundness of a
particular action.
It sets clear boundaries within which
employees must operate while granting
them freedom to experiment within
those constraints.