Practicing Success
Identify the type of plan linked to routine steps on how to carry out various activities. |
Procedure Rule Policy Budget |
Procedure |
The correct answer is option (1) : Procedure Procedure Procedures are routine steps on how to carry out activities. They detail the exact manner in which any work is to be performed. They are specified in a chronological order. For example, there may be a procedure for requisitioning supplies before production. Procedures are specified steps to be followed in particular circumstances Rule 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 Budget A budget is a statement of expected results expressed in numerical terms. It is a plan which quantifies future facts and figures Policy Policies are general statement that guide thinking or channelise energies towards a particular direction. Policies provide a basis for interpreting strategy which is usually stated in general terns. |