Page 10 - IC90 Human Resource Management
P. 10
e. Difference between strategies and tactics
4. Policies
a. The planning process may lay down policies. Policies are statements of
intention, declarations of broad objectives towards which resources will
be applied.
b. A policy clarifies principles and values of management. Policies are not
decisions but provide guidance for decision makers.
5. Procedures
a. Procedures lay down detailed steps for doing things.
Example :
For example, in an insurance office a major item of very important, but
repetitive, activity relates to handling of money. Premiums are paid at the
counter in cash and by cheques. They are also received by mail. Accounting for
these promptly and accurately is an absolute necessity.
