Meaning of Policy
Efficient management always tries set objectives which are the goals towards the attainment of which all activities of the management are directed. But to direct the activities mode of thought and lay down rules and principle are required for attaining objectives. That is why policy may be named as thoughts and principles which guide the over all activities of the organization. To accomplish objectives set by management requires guidance and policies. Policies show directions to the activities so as to attain the objective of the organization effectively and efficiently.
Definition of Policy
policy definition is a guideline that helps in attaining the aims of the objectives of the organization.
Characteristics of Policy
Following are the characteristics of policy
- It should be Flexible. It must have the character of adaptability and required changes should not disturb the organization too much. Neither the changes should be such which may require rethinking so far as the aims and objectives of the organization are concerned. It should not be static. It must flexible only to the extent to which it makes sense with the objectives, plans and requirements of the organization.
- It should prove an effective instrument for the execution of the plans of the organization.
- The code prescribed should stat procedure which is to be followed in a given situation.
- Normal procedure should be clearly defined and should usually follow the conventional and establish course since they have withstood the time and have now been accepted by the organization. The change, if required, may be incorporated if it is going to help the working. But such a change should be adequately tested before it is given effect to.
- A particular policy may be good in one set of circumstances but it may not prove useful in another set of circumstances. Since circumstances may not remain the same all the time. It is therefore, necessary that the policy should be reviewed periodically. A periodical review of the policy makes the policy more adaptable and acceptable.
Briefly and In short the characteristics of policy are:
- Flexible in execution
- An effective instrument for the execution
- Defined clearly
- Reviewed periodically and
- Should follow established and conventional procedure in normal circumstances.