Week 10 Finance

Essential components of a policy statement

The following are essential components in a policy statement. Together they are the framework for guiding actions, addressing the who, what, when, why, where, and how of the policy's application and implementation.

Who?

· Which individuals will be impacted by the policy?

What?

· What is the issue that is being examined?

When?

· When will the policy take effect?

· How long will this policy be in effect?

Where?

· Where does this policy apply geographically or within specific organizational boundaries?

how?

· How will the policy be implemented or enforced?