Policy - Page 20

A policy is a deliberate system of guidelines or principles designed to influence decisions and achieve rational outcomes. It serves as a framework for decision-making within an organization or government, outlining the intended direction and approach for specific issues or areas of concern. Policies can be formal, documented rules, or informal practices, and they are often established to address consistent objectives, regulate behavior, ensure compliance with laws, or manage risks. In various contexts, such as public policy, corporate policy, or organizational policy, the term encompasses both the overall strategic objectives and the specific protocols established to reach them. Policies are critical in maintaining order, promoting transparency, and providing a basis for accountability within institutions.