Corporate Policy :  Management’s expressed or implied intent to govern action in the pursuit of the company’s objectives.

Internal Determinants :  The internal factors which influence the policy formulation of a firm.
 

External Determinants :  The external factors which influence the policy formulation of a firm.
 

Actuating Policies : The actuating policies include providing leadership, integrating tasks, communication
and organization climate. These policies are concerned with organizing the employees of the organization.
 

Appealed Policies : These are also called “suggested policies” because they are made by taking into
account the suggestions of subordinates or people who implement these policies.
 

Derivative Policies : These policies are operational in nature and are derived from company’s major
policies. They are made as guidelines to perform day to day operations.
 

Implied Policies : The policies which are understood by the employees code of conduct or behavior and
are not expressed orally or through written statements are known as implied policies. They flow from philosophy, values and traditions of the organization.