This document outlines the key aspects of policy formulation for a healthcare organization. It defines what a policy is, the purpose of policy formulation, and why policies and procedures are needed in the workplace. The document then discusses the characteristics of a good policy and the steps involved in the policy making process. Specifically, it notes that a policy provides guidance, ensures consistency and fair treatment, promotes predictable behavior, allows for delegation, and aids communication and coordination. The characteristics highlighted include being clear, aligned with organizational goals, efficient and effective. The policy making process involves formulation, acceptance, clear communication, allocation of resources, and distribution strategies.