The correct answer is option 2- Objectives.
The ends which the management seeks to achieve by its operations are Objectives.
Objectives can be said to be the desired future position that the management would like to reach. Objectives are very basic to the organisation and they are defined as ends which the management seeks to achieve by its operations. Therefore, an objective simply stated is what you would like to achieve, i.e., the end result of activities.
OTHER OPTIONS
- Method- Methods provide the prescribed ways or manner in which a task has to be performed considering the objective. It deals with a task comprising one step of a procedure and specifies how this step is to be performed. The method may vary from task to task. Selection of proper method saves time, money and effort and increases efficiency.
- Policies are general statements that guide thinking or channelise energies towards a particular direction. Policies provide a basis for interpreting strategy which is usually stated in general terms. They are guides to managerial action and decisions in the implementation of strategy. Policies define the broad parameters within which a manager may function. The manager may use his/her discretion to interpret and apply a policy.
- Rules are specific statements that inform what is to be done. They do not allow for any flexibility or discretion. It reflects a managerial decision that a certain action must or must not be taken. They are usually the simplest type of plans because there is no compromise or change unless a policy decision is taken. Rule have no flexibility so they prescribed about the do or don't in the company. Rules may come with consequences or penalties for non-compliance
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