Strategy vs Policy
The terms strategy and policy are often used interchangeably, but they actually have distinct meanings and functions in an organization.

Policy
- A policy is a set of guidelines or rules established by an organization to govern its actions and decisions.
- Policies are typically broad and high-level, outlining the organization's overall approach to a particular issue or situation.
- Policies are usually developed by senior management and are intended to provide a framework for decision-making at all levels of the organization.
- Policies are often formalized through written documents and are communicated to all employees to ensure consistency and compliance.

Strategy
- Strategy, on the other hand, is a plan of action designed to achieve a specific goal or objective.
- Strategies are more focused and specific than policies, outlining the steps and tactics that will be used to accomplish a particular outcome.
- Strategies are developed based on an organization's goals, resources, and competitive environment, and are often created by middle or lower-level managers in collaboration with other stakeholders.
- Strategies are dynamic and can change over time in response to new information or changing circumstances.

Differences
- Policies are guidelines or rules that govern decision-making, while strategies are plans of action designed to achieve specific goals.
- Policies are broad and high-level, while strategies are more focused and specific.
- Policies are typically developed by senior management, while strategies may be developed by middle or lower-level managers.
- Policies are formalized and communicated to all employees, while strategies may be more fluid and adaptable.
In conclusion, policies provide a framework for decision-making, while strategies outline the specific actions that will be taken to achieve organizational goals. Both are important components of organizational management and should be aligned to ensure success.