Differentiate between 'Policy' and 'Rule' as types of plans. - Vidyadip

Question

Differentiate between 'Policy' and 'Rule' as types of plans.

✓

Answer

Differentiation between Policy and Rule:

Policy	Rule
Policies are general statements that guide thinking or channelise energies towards a particular direction	Rules are specific statements that inform what is to be done
They are guides to managerial action and decisions in the implementation of strategy.	It reflects a managerial decision that a certain action must or must not be taken.
Policies provide a basis for interpreting strategy which is usually stated in general terms.	Rules are usually the simplest type of plans because there is no compromise or change unless a policy decision is taken.

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