Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Planning

Question:

A comprehensive plan for accomplishing an organisation objectives is known as

Options:

Objectives

Strategy

Policy

Procedure

Correct Answer:

Strategy

Explanation:

The correct answer is option (2) : Strategy

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,

(iii) Allocating resources necessary to achieve the objective.

Objectives The first step in planning is setting objectives. Objectives, therefore, can be said to be the desired future position that the management would like to reach.

Policies are general statements that guide thinking or channelise energies towards a particular direction. Policies provide a basis for interpreting strategy which is usually started in general terms.