policy

n. course or method of action, guidelines; position, standpoint; insurance contract

A policy is a deliberate plan of action to guide decisions and achieve rational outcome(s). The term may apply to government, private sector organizations and groups, and individuals. Presidential executive orders, corporate privacy policies, and parliamentary rules of order are all examples of policy.
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(v. t.)
To regulate by laws; to reduce to order.
  

(n.)
The writing or instrument in which a contract of insurance is embodied; an instrument in writing containing the terms and conditions on which one party engages to indemnify another against loss arising from certain hazards, perils, or risks to which his person or property may be exposed. See Insurance.
  

(n.)
The settled method by which the government and affairs of a nation are, or may be, administered; a system of public or official administration, as designed to promote the external or internal prosperity of a state.
  

(n.)
The method by which any institution is administered; system of management; course.
  

(n.)
Prudence or wisdom in the management of public and private affairs; wisdom; sagacity; wit.
  

(n.)
Motive; object; inducement.
  

(n.)
Management or administration based on temporal or material interest, rather than on principles of equity or honor; hence, worldly wisdom; dexterity of management; cunning; stratagem.
  

(n.)
Civil polity.
  

(n.)
A ticket or warrant for money in the public funds.
  

(n.)
A method of gambling by betting as to what numbers will be drawn in a lottery; as, to play policy.
  

An overarching plan (direction) for achieving an organization's goals.

Noun
1. a line of argument rationalizing the course of action of a government; "they debated the policy or impolicy of the proposed legislation"
(hypernym) argumentation, logical argument, line of reasoning, line
(hyponym) clericalism
2. a plan of action adopted by an individual or social group; "it was a policy of retribution"; "a politician keeps changing his policies"
(hypernym) plan of action
(hyponym) activism
3. written contract or certificate of insurance; "you should have read the small print on your policy"
(synonym) insurance policy, insurance
(hypernym) contract
(hyponym) floater, floating policy