Establishing Strategy and Policy
A key similarity between strategy and policy is that both are often set at the top-management level of an organization. A management team usually collaborates to set goals and strategy for how to operate the company in a profitable way. Going after a new customer market is a potential strategy to grow market share, for instance. Top managers, or managers in specific functional areas, then usually establish policies that help employees operate in alignment with the strategy. A new policy of expanding sales rep territories could fit with this new market strategy