In order to encourage technologies like artificial intelligence (AI), the internet of things (iot) and virtual reality (VR), the government is planning to launch a scheme to invite foreign companies through a transparent bidding process, to set up plants for manufacturing semi-conductors, solar photo voltaic cells, lithium cell batteries, solar electric charging vehicles, computer servers, and laptops in India..Identify the type of plan being described in the above lines.

Strategy

The correct answer is option 3 i.e. Strategy.

The passage describes a strategic plan by the government to encourage technologies like artificial intelligence (AI), the Internet of Things (IoT), and virtual reality (VR) through the launch of a scheme. The plan involves inviting foreign companies through a transparent bidding process to set up manufacturing plants for various technological components in India. Therefore, the type of plan being described is a 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.