Classification of Corporate Policies on the Basis of Expression

Financial Theory and Corporate Policy (4th Edition)On the basis of expression, corporate policies can either be expressed or implied.

Expressed Policies:- The policies which are expressed in clear words either orally or in writing are the expressed policies. These are most suitable for small organizations.

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.