This document outlines the key aspects of developing organizational policies, including: 1. The purpose of policies is to establish standards, regulations, and guidelines to govern business processes and direct day-to-day actions. 2. Procedures provide the instructions to implement policies and are expressed as a series of steps to achieve objectives. 3. The policy making process involves defining problems, researching options, analyzing alternatives, and developing an implementation plan with responsibilities and resources. 4. An effective policy has a continual review cycle to ensure it remains relevant and aligned with goals.