Policy bends, rules don't. Company Policy is more of a general guideline that is plastic and supple enough to bend to the will of whoever wields the power of Company Policy. Company Policy is also plastic and supple enough to bend against that thing that the wielder of this power does not like and congers negative reinforcement in the absence of any "rule". "Corporate Policy" is everywhere replaceable with "because I said so" in language.
True story: as the CEO of my own small business, I have established the Rule that my firm will be as fiscally conservative as possible; however, Company Policy allows business meetings, especially those hosted by the CEO, to be as lavish as necessary to satisfy the needs of the situation -to the extent that the meeting must be justifiable as "fiscally conservative" for all intents and purposes. Policy bends, rules don't.