Match List I with List II.
| List I (Type of Plan) |
List II (Description) |
| A. Strategy | I. It is a statement of expected results expressed in numerical terms |
| B. Policy | II. It is a general statement that guides thinking or channelizes energies |
| C. Rule | III. It provides the broad contours of an organisation's business |
| D. Budget | IV. It is a specific statement that tells what is to be done |
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → A-III, B-II, C-IV, D-I
A. Strategy — this matches III. It provides the broad contours of an organisation’s business. A strategy is a broad, long-term plan. It shows the general direction and scope of the business.
B. Policy — this matches II. It is a general statement that guides thinking or channelizes energies. A policy is a general guide for decisions, such as a pricing policy or a recruitment policy.
C. Rule — this matches IV. It is a specific statement that tells what is to be done. A rule is exact and strict. It allows no change or choice, for example “No smoking in the factory”.
D. Budget — this matches I. It is a statement of expected results expressed in numerical terms. A budget is a plan in numbers, such as a sales budget for the next month.
NCERT (2026-27 Edition): “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. …” “Policy 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. …” “Rule Rules are specific statements that inform what is to be done. They do not allow for any flexibility or discretion. …” “Budget A budget is a statement of expected results expressed in numerical terms. It is a plan which quantifies future facts and figures. …” |