The 5 *policies* I believe are the foundation to building a solid IT capability for the business includes:
1) Information Management - information is an asset of the company and needs to be given its proper place as a policy (simply put ? make people know you recognize information is probably the most important asset of the company)
2) Information Security - What security means to "us" and high-level how we protect it (you are not allowed to send our customer list to a competitor and no they can have access to our systems)
3) Systems Development and Maintenance - Why and framework for buying/building systems and our expected level of quality (again on the asset front, what be buy/build are assets of the company and we need to manage them as such, including their quality).
4) Use of company-owned technology resources (assets and services) - this would include email/internet use as well as devices such as PDAs, laptops (no kids please), and telephone for example.
5) Use of employee-owned technology - this would take a position that the use of personal hardware/software is prohibited (hey, your cookbook software is crashing the network).
I highlight the term policies as they must be very succinct - down to the point - no fluffiness. Also, not to confuse policies (the what we believe) with procedures (the how we carry it out).