Business Policies and Rules Overview

The video tutorial, presented by Laura Hernández, explores the concepts of business policies and rules. It begins by defining policies as directives that support business objectives, highlighting their characteristics such as alignment with objectives, coherence, and flexibility. Examples of policies include quality standards and attendance requirements. The tutorial then shifts to business rules, which are more specific and short-term compared to policies. Examples include banking and insurance rules. The video concludes by comparing policies and rules, emphasizing their roles in guiding business objectives.

What is the primary purpose of business policies?

• To design company logos

• To manage employee salaries

• To create a marketing strategy

• To establish guidelines and directives for achieving objectives

Which of the following is NOT a characteristic of an effective business policy?

• Must be logical and flexible

• Should be contradictory

• Must reflect the internal and external environment of the company

• Should provide a guide for decision-making

Why should business policies be documented in writing?

• To improve customer satisfaction

• To ensure all employees are aware of them

• To increase company profits

• To reduce the number of meetings

Which of the following is an example of a business policy?

• Monthly performance reviews

• Daily team meetings

• Weekly sales reports

• Mandatory use of company ID cards

What is a business rule?

• A strategy for marketing

• A directive that supports a business objective

• A principle for customer service

• A guideline for employee behavior

Which of the following is a characteristic of a business rule?

• General and vague

• Long-term and strategic

• Flexible and broad

• Declarative and atomic

Which of the following is an example of a business rule?

• Payroll processing three days before payday

• Annual company retreat

• Quarterly financial audits

• Monthly team-building activities

How do business policies differ from business rules?

• Policies are long-term, rules are short-term

• Policies are short-term, rules are long-term

• Policies are more specific, rules are more general

• Policies are less important than rules

Why is it important to regularly review and update business rules?

• To ensure they remain relevant and effective

• To increase employee salaries

• To improve customer service

• To reduce company expenses

What role do business policies and rules play in achieving business objectives?

• They are used to design company logos

• They serve as a guide for fulfilling business goals

• They help in creating marketing strategies

• They manage employee salaries