the sub ordinate are given complete freedom in taking decisions is a part of
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policy
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The sub ordinate are given complete freedom in taking decisions is a part of policy.
- The set of principles, regulations and standards that an organisation works to in order to accomplish its goals and objectives are referred to as business policies. It gives decision-makers a framework and aids in ensuring that choices are fit with the organization's overall goal and values.
- A vast range of topics, including finance, marketing, human resources, operations and more can be covered by business policies. A financial policy might specify rules for investing, budgeting and financial reporting for instance. A marketing policy may lay out standards for product development, branding and advertising.
- The board of directors normally approves business policies after they have been formulated by senior management. All personnel are informed about them through training sessions, policy manuals and other channels of communication.
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