Business Policy Session introductio.pptx

Ppt is on Introduction and features of business policy

1. Business Policy

2. Business Policy  Business policy defines the scope within which decisions must be made to achieve organizational goals. It encompasses guidelines that govern an organization's actions, the roles and responsibilities of top management, and the critical issues affecting long-term success .

3. An effective business policy should be: specific clear reliable appropriate simple comprehensive flexible stable

4. What does a policy for business cover? Policies the law requires Policies to protect the company legally Policies relating to business operations

5. Policies the law requires Most companies require some policies that ensure their organisation meets legal requirements. Matters that have serious legal implications for most organizations include health and safety and employment . For example, in organizations that own warehouses or construction sites, the policy for business might include some rules relating to protective clothing that staff and visitors are to wear onsite. Not only does this policy protect a company's staff and visitors from potentially dangerous injuries, but it also protects the company from lawsuits .

6. Policies to protect the company legally There are also matters business policies cover that the law does not require, but which can also help to protect a company from lawsuits and mitigate risk in advance. These policies might cover a business's approach to equal opportunities, data protection rules, and anti-corruption regulations. The law requires that most businesses take some measures on each of these subjects; how an organization's policy for business chooses to address them can differ greatly.

7. Policies relating to business operations A policy for business handbook can also include information relating to matters that do not necessarily pose any legal threat but could still affect a company's operations and brand. These rules outline how staff can deal with particular situations, and which actions are available to them under different circumstances.

8. Examples: How a company handles the media Company policy relating to finances, including expenses Employment policies to follow when hiring new staff Dress code and uniforms An organization's use of external agents, including consultants Policy relating to the use of personal devices at work IT And communications policy, particularly regarding data safety

9. Why is a policy for business important? A company's policy for business can affect legal liabilities, staff satisfaction and public image, which in turn, can have a significant impact on the profitability and overall success of the company.

10. Establish a positive corporate culture A policy for business is one of the key elements in a business's corporate culture . An organisation's policy for business sets the expectations surrounding company culture and working environment from the moment new staff members join the team and makes it clear that management takes any breaches of these policies seriously.

11. Protects the organisation from legal liabilities   A policy for business guides staff members at every level of an organisation when they make important decisions. An effective policy for business ensures that all decisions made in line with the policy are legally sound, and protects a business from potentially serious legal implications such as lawsuits. For example, a policy for businesses that outlines key health and safety measures to keep staff and visitors safe on business premises significantly reduces the risks of a lawsuit arising due to slips and other injuries.

12. Improves consistency across an organisation Senior management teams create a policy for business with a view to this policy informing the decisions of every member of an organisation. This creates consistency across the business, whether senior, mid, or lower-level staff are making decisions. If a policy for business is unambiguous, it can lead to staff making the same decisions across a business, regardless of who is making them.

13. Empowers a business in disciplinary hearings Without a clear and decisive policy for business in place, companies can struggle to correctly discipline or hold employees responsible when they breach company rules . If an organization's policy for business clearly outlines a rule, it makes it easier to back up disciplinary decisions that managers make when an employee breaks a rule. If it's ever necessary to fire or suspend a member of staff for a breach of rules, it's essential to include that rule in the policy for business .

14. Boosts staff satisfaction A good policy handbook can also contribute to employee satisfaction and engagement. People feel happy to work for companies that protect their interests with staff-centric policies such as those relating to employee rights, holidays, and perks. Creating a positive work environment has a significant impact on staff satisfaction, which in turn affects productivity and performance.