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Corporate Policy: Its Strategic Role

In: Membership of the Board of Directors

Author

Listed:
  • Dimitris N. Chorafas

Abstract

Policy is a fundamental guide, a general statement or understanding guiding the thinking of subordinates. General statements of policy are never specific, they are based on a philosophy or belief that serves to orient the actions of the company executives. More precisely, policies deal with broad matters, not detail; require study and thought; are approved only at the highest level of the organisation; extend over a long range of time; having been established, should be expressed in written text; and should be observed fully.

Suggested Citation

  • Dimitris N. Chorafas, 1988. "Corporate Policy: Its Strategic Role," Palgrave Macmillan Books, in: Membership of the Board of Directors, chapter 7, pages 135-161, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-10182-5_7
    DOI: 10.1007/978-1-349-10182-5_7
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