Question

Explain the following types of plans
(a) Strategy (b) Policy

Answer 1

(a) Strategy: Koontz and Heinz Weihrich defined strategy as “a general programme of action and deployment of resources to attain comprehensive objectives” or ” the determination of the basic long-term objectives of an enterprise “and the adoption of courses of action and allocation of resources necessary to achieve these goals. It is specific type of plan for achieving organisational goal

(b) Policies: Koontz and O’Donnell defines “policies are general statements or undertakings which guide or channel thinking in decision-making of subordinates.” So, policies act as guides to thinking and action of subordinates in the organisations. It should be clearly prescribed and understandable by all.