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What is the difference between policy …

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What is the difference between policy and rule

Posted by Kaushal Baraik 4 years, 6 months ago

CBSE > Class 12 > Business Studies

1 answers

Sia ? 4 years, 6 months ago

BASIS FOR COMPARISON	RULES	POLICIES
Meaning	Rules imply a set of clearly stated standards, which regulates the behavior of an individual, at the workplace.	Policies refer to the principle of action laid down by the top-level management, which acts as a guide for the decision making under various circumstances.
Represents	An order, which needs to be followed.	A framework within which the decisions are to be made.
Determines	What should be done and what should not be done by the employees.	What is to be done in different circumstances.
Sources	Policies and Procedures	Objectives
Rigidity	Highly Rigid	Comparatively less Rigid
Type of Statement	Specific Statement	General Statement
Objective	Rules are made to govern behavior and ensure compliance, to maintain discipline.	Policies are formulated by the management to guide the decision making, to ensure uniformity in decisions.

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