business policies Making
Business Policy defines the scope and limits within which decisions can be taken by the subordinates in any organization. It permits the lower level management to deal with the day to day problems and issues without consulting top level management every time for decisions.
A standard operating procedure (SOP) is a set of step-by-step instructions compiled by an organization to help workers carry out complex routine operations. SOPs aim to achieve efficiency, quality output and uniformity of performance, while reducing miscommunication and failure to comply with industry regulations.
Image Courtesy: interfacing.com