Principles versus policies

All businesses should have a core set of principles, and policies should follow after that. It’s easy to conflate the two, and it can be dangerous if you do.

I recently heard Adam Grant share the story of Robert Reffkin of Compass, and how this kind of overlap between principles and policies caused some problems there. Compass is a real estate brokerage, and Reffkin wanted to set it apart by not paying commission to…