Sometimes overlooked by executives leading smaller firms are the importance and many benefits of creating effective policies and procedures (P&Ps).
While they are often grouped together, policies inform a company’s direction and decision-making processes. By contrast, procedures are established ways of performing the actions needed for policy implementation.
Discussed in the full PDF…
are how effective policies and procedures mitigate five risks, address five challenges and deliver five benefits.
Revisiting and committing to formal policies and procedures, communicating them to all employees and stakeholders, and ensuring they are consistently followed support performance gains and improved customer satisfaction.
Los Angeles and Southern California executives interested in fully leveraging effective P&Ps can benefit from talking with a provider of outsourced CFO services.
An on-demand CFO draws on many years of experience as a former enterprise chief financial officer to review existing policies and procedures – and then recommend both updates to and creation of new P&Ps.