Definition of a formal policy and strategy

Policies are the guidelines, rules and procedures an organisation develops to govern its actions and outline decision making do’s and don’ts. It is:

  • widely communicated
  • available to and accessible by all staff

Strategies are an action plan created to achieve one or more goals and bridge the gap between where it is and where it wants to be. It:

  • relates to how you allocate and use materials and human resources
  • requires executive approval

Formal policies and strategies are written documents approved by human resources or management. A strategy can exist without a policy and a policy without a strategy – both can exist and support each other.