Micromax was India’s largest seller of mobile handsets. It launched low-cost Chinese manufacturing with some smart packaging and features like long-lasting batteries and dual-sim functionality to garner 20% market share in India’s value-conscious mobile handset market.

Identify the two types of plans being adopted.

Strategy and objective

The correct answer is option 1- Strategy and objective.

The adoption of low-cost Chinese manufacturing with specific features constitutes the strategy, and the goal of garnering 20% market share serves as the objective. So, it's indeed Strategy and Objective.

• Objective 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.

• 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.