Rules and policies are part of all the business processes defined in different zones of business. Defining Business Rules and Policies helps in the effective execution of business and it creates a reliable business environment. Business Rules are defined by the organization as well as by the government to conduct business in an ethical and moral way. Business Rules are also created to encourage businesses to be more competitive as well as to identify the right customers and serve them with more care. The following points are examples of business rules defined in different zones of the business environment:
If the total annual income of a family is greater than $80,000, then auto-approve a loan less than $120,000 with 3 percent interest
If the age of a customer is less than 18, then decline to sell products that are classified under Section 18 of Govt. Act 1937
If a traveler account has total miles for the year greater than 500,000, then change the customer status...