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What is the importance of a company’s policies?

September 29, 2019
What is the importance of a company's policies

The company must not only be responsible for selling, but must create a brand image and the company itself, so that it is positive and easily identifiable by any consumer or worker. To take care of your perception from abroad, it is essential that the company create strong guidelines on its business management, or in other words, that it has business policies recognized by all. In this Uncommon article, we will explain the importance of a company’s policies.

Steps to follow:

1.Business policies are all those guidelines to which the company decides to apply, so that these directives and ideas are the ones that motivate the company’s general rules of action, thus determining the values ​​that it has.

In this way, the policies of every company are usually collected in writing, so that they are at the hand of all those groups to which they are addressed, usually customers, suppliers, shareholders and workers.

2.Establishing these policies helps us know what direction to take in case there is any type of conflict with any of the agents that surround us, so it will allow us to be fair if we always apply a decision under the same methods.

3.In addition, the importance of business policies highlights the fact that they will allow us to create a brand image, thanks to which everyone will be able to know what our values ​​are and how we act, as soon as they know what company they are talking about.

This generates a word of mouth that can be very positive or negative, depending on the impression we have generated. For example, it could be that we are a good company in customer service but bad in the quality of our products, and vice versa with our competitors.

4.Another important factor of business policies is that they allow us to define broad objectives about what type of company we want to become. By this we mean, if for example we decide to focus on policies of respect for the environment, employee benefits or customer-centered.

5.It is essential that the policies are consistent between what is said and what is done, since otherwise the company loses credibility and creates distrust for the rest of society.

By this we mean that, if, for example, among your policies you take environmental protection as an important part, take actions to protect it and not any that could damage it.

6.Finally, it should be borne in mind that to facilitate the development and collection of these policies, the company can develop manuals where they can be available to everyone, such as:

  • Policy Manual
  • Employee Handbook
  • Procedures manual
  • Financial manual