OER for a Post Graduate Programme in HRM

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Wehrmlogo1.jpg MHRM

Module 1 :
Principles of Management

Module Content Map

Topic 4 : Policy Development

What is a Policy? | Types of policies | Process of Policy Making | Implementation of the Policy | Key points & Activity |

Back to Topic 3 : Planning | Go to Topic 5: What is organization?

What is a Policy?

Policy is a one time standing decision in the light of which so many routine decisions are made. Policies provide the broad framework within which decisions are to be made. In the absence of a sound policy the managerial decisions may become directionless and the organizational functions would end up in chaos. Thus policies help in taking decisions based on the declared goals and avoid wastage of time and resources. Moreover, Policies fill the gaps in the Plans of the Organization.