A policy is a written and promulgated document that has set of principles and strategies adopted by an organization to govern daily operations. Policies are written to address different needs and are available in different forms such as health and safety, employment or insurance policy. They are flexible and thus exposed to amendments to meet the changing demands and arising issues. Policies are deliberate blueprints that influence the decision making of individuals as well as organization and thus impact the outcomes in private and public sector (Smith, 2002).
In the public sector, policies are used to help increase revenue generation, which can be through introduction of taxes and levies on goods and services rendered by the government. In the public companies, the health and safety policies are put in place to ensure the employees of these companies are protected against work related accidents by provision of protective gears as well as ensuring treatment of those who get hurt in the work premises.
Delegate your assignment to our experts and they will do the rest.
The established policies work as precaution measure to the private sector. This is because, the government monitors the operations of the private sector and thus they must ensure they adhere to the requirements to remain in operation. This plays a key role in the innovation and growth of the private sector.
To have a functional organization, there are rules that need to be observed or act as a guiding point. Policies too are used to ensure the organizations mission and vision is maintained in the operations and ventures that are taken. Without policies in in place, the activities in the public and private sector will lack accountability. These policies should be made known to all that are affected by it to ensure compliance (Lowi, 1985).
References
Lowi, Theodore J. (1985). "The State in Politics". In Noll, Roger G. (ed.). Regulatory Policy and the social Sciences . Berkeley: University of California Press. pp. 67–110
Smith, K. B. (2002). "Typologies, Taxonomies, and the Benefits of Policy Classification". Policy Studies Journal . 30 (3): 379–395. doi : 10.1111/j.1541-0072.2002.tb02153.x .
