Practicing Success
Which of the following is a comprehensive plan for accomplishing organisational objectives ? |
Policy Budget Objectives Strategy |
Strategy |
The correct answer is option (4) : Strategy Strategy: A strategy provides the broad contours of an organisation's business. It will also refer to future decisions defining the organisations direction and scope in the long run. Thus, we can say a strategy is a comprehensive plan for accomplishing an organisation objectives. This comprehensive plan will include three dimensions, (i) determining long term objectives, (ii) adopting a particular course of action, and (iii) allocating resources necessary to achieve the objective. Policies: are general statements that guide thinking or channelise energies towards a particular direction. Objectives: can be said to be the desired future position that the management would like to reach. |