Corporate policies are based on what?

Corporate policies are primarily designed to align with the organization's mission statement and strategic goals. The mission statement reflects the fundamental purpose of the organization, outlining the values and direction that guide decision-making and behavior within the company. It serves as a foundation for developing policies that support the overall vision and objectives of the organization.

Strategic goals, on the other hand, are specific, measurable outcomes that an organization aims to achieve in the long term. These goals guide the planning and implementation of policies, ensuring that all actions taken by the company are moving towards desired outcomes. By aligning corporate policies with both the mission statement and strategic goals, the organization creates a coherent framework that promotes consistency, accountability, and a clear path forward.

While competitor's policies may offer insights and benchmarks, they do not directly form the basis for a corporation's internal policies. Hence, the best answer encompasses both the mission statement and strategic goals, reinforcing that corporate policies should reflect these essential elements for effective governance and operational success.