Policies are instruments to maintain order and address the needs of a society. They are fundamental principles that keep a government, enterprise or NGO functioning.

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Public policies include laws, mandates or regulations established through a political process. Organizational policies are general missions, principles and procedures that govern an enterprise. 

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Many organizations spent huge sums and efforts on strategy development. Policy designs are sometimes neglected. Without a good policy design, robust strategies cannot be implemented.  

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Policies that are unclear or simplistic can be misread. They can be misused for self interests. Public policies that are not in line with societal aspirations invoke political risks. Organization policies that are not in line with employee aspirations will not attract the right talent. Policies that do not meet stakeholders aspirations will face costly obstacles. 

 

Hence, policy risks are significant threats to goals and objectives.

 

Leaders need to acquire enough information to deliberate and articulate on policy designs. Leaders need to consult with key stakeholder groups. Good stakeholder consultations solicit the right kind of input. They create winning policies for wider acceptance.