This Purchasing Policy applies to and binds all directors, managers and employees of the organisation in any situation where they are involved in a purchasing process, whether as requisitoners or specifiers, purchasers or negotiators, or those who validate or authorise payment. $$Purchasing$$ includes all procurement activities including leasing and hiring, and may where appropriate include other activities accompanying the life cycle of goods $($or service contracts$)$ and the end$-$of$-$life disposal of goods which have been procured $($whether or not they remain in our ownership$).$ Adherence to the Purchasing Policy is both an individual and a corporate responsibility. Wilful breach of this policy, or unauthorised departure from the Procedures derived from this Policy, may constitute a disciplinary offence.

With reference to this:

$2\mathrm{.}1$ Discuss the critical features that a policy statement should incorporate.