What is the term used for a set of guidelines that guide decision-making in an organization?

The term "policy" refers to a set of formal guidelines that direct decision-making within an organization. Policies are established to provide a framework for consistent actions and reactions in various situations, ensuring that decisions align with the organization’s goals, values, and legal obligations. They help create a common understanding among members of the organization regarding acceptable practices and standards.

Policies differ from procedures, which outline specific steps to be taken to execute a particular task or process; while both contribute to organizational efficiency, policy provides the underlying rationale for those tasks. Regulations, on the other hand, typically refer to rules established by governmental bodies and are often legally binding, serving a different purpose than the internal guidelines of an organization. Protocols usually pertain to detailed descriptions of procedures particularly in technical or scientific settings, often outlining how to carry out specific operations rather than influencing broad decision-making.