Question

Distinguish between objectives and policies on the basis of
(i) Meaning (ii) Aim /Purpose
(iii) Scope / Focus

Answer 1

$\begin{array}{ccc}\text{Basis}& \text{Objectives}& \text{Policies}\\ \text{Meaning}& \text{Objectives are the end result or}& \text{A policy is a guideline that}\\ & \text{measurable component that is}& \text{governs how an organisational}\\ & \text{directly supportive of outcome}& \text{situation will be addressed.}\\ & \text{a goal which a business wishes to}& \\ & \text{achieve at a certain time frame}& \\ & \text{available resources.}& \\ \text{Aim/Purpose}& \text{Objectives decide the purpose of}& \text{This provides guidance to managers}\\ & \text{organisation. They are the path}& \text{for decision making.}\\ & \text{setters for other actions.}& \\ \text{Scope/Focus}& \text{Scope is wide as it covers all other}& \text{Prepared to assist managers in}\\ & \text{policies, strategies, etc. and covers}& \text{decision-making with changes in}\\ & \text{overall business.}& \text{a particular event. Hence have a}\\ & & \text{narrow scope than objectives.}\end{array}$