Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Planning

Question:

Which of the following is a comprehensive plan for accomplishing organisational objectives ?

Options:

Policy

Budget

Objectives

Strategy

Correct Answer:

Strategy

Explanation:

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.

Budget : A budget is a statement of expected results expressed in numerical terms.