Definition: is an official document written by an enterprise, which contains the description of how the organization plans to conduct its operations and react to different circumstances. In essence, the policy statement explains the employees of the company what is expected from them and how they should behave in various situations. Unlike standard operating procedures, this document constitutes the general direction for the entire organization and isn’t limited to a single department or position.
In a Sentence:
After the merger between the two companies was finished, the board was required to come up with an updated policy statement to explain how the new enterprise intended to function from now on.
When acquainting yourself with a new company, you always have to carefully study the policy statement to know what is and isn’t allowed in the workplace.
I was impressed with the policy statement in my new firm, as it showed that the management really cared about the well-being of its employees.
Synonyms and related words: corporate policy, terms and conditions, standard operating procedure, lawsuit