Once you recognize why you need policies or that you have some gaps in your existing policy framework, you’ll need to consider which areas and what types of policies you need to develop.
Policies addressing legal or regulatory issues help you meet or exceed industry, regional, and/or national requirements. Legal requirements, like rules on accessibility or personal info, generally apply across industries. Regulatory requirements are industry specific, such as regulations on advertising prescription drugs. Both differ by industry and country.
Whether or not you choose to address a specific legal or regulatory risk with an organizational policy, your organization should at least discuss it and potential consequences.
They aren’t legally required, but policies codifying best practices just make good business sense.
For example, there’s no law against mistreating your logo. But, if delivering on-brand experiences is a core business objective, you should have a policy to ensure anyone who creates content for any digital channel sticks to established brand guidelines.