Definition of Corporate policy:
Usually, a documented set of broad guidelines, formulated after an analysis of all internal and external factors that can affect a firms objectives, operations, and plans. Formulated by the firms board of directors, corporate policy lays down the firms response to known and knowable situations and circumstances. It also determines the formulation and implementation of strategy, and directs and restricts the plans, decisions, and actions of the firms officers in achievement of its objectives. Also called company policy.
Meaning of Corporate policy & Corporate policy Definition