'These plans are formulated at a top level, defines the future decisions regarding the organisations direction and scope in the long-run'. Identify the type of plan and discuss it briefly.

Open in App

Solution

Strategy: It is a comprehensive plan, which involves determining long-term objectives, adopting a particular course of action and allocating resources necessary to achieve such objectives. It helps to define the scope and direction of the organisation in the long-run.

Suggest Corrections

Similar questions

"These plans are formulated at the top level, defines the future decisions regarding the organisations direction and scope in the long-run'. This is ___ plan.

Q. Recently many companies have planned for significant investment in organised retailing in India. Various factors which have encouraged companies to take these decisions are customer income is increasing, rise in standard of living of people. People are ready to pay high price for quality goods, government policy of liberalisation regarding MNC entry and FM, etc.
(a) Explain briefly changes in business environment under different heads that have facilitated the companies decision to plan significant investment in retailing.
(b) What has been the impact of these changes with regards to globalisation and privatisation?

Q. Name the type of plan which provides directions for all decisions, and actions.

Lately, many companies have planned for significant investments in organised retailing in India. Several factors have prompted their decision in this regard. Customers income is rising. People have developed a taste for better quality products even though they may have to pay more. The aspiration levels have increased. The government has also liberalised its economic policies in this regard and permitted even cent-percent foreign direct investment in some sectors of retailing.

(a) Identify changes in the business environment under different heads: economic, social, technology, political and legal that have facilitated the companies decisions to plan significant investments in organised retailing.

(b) What has been the impact of these changes with regard to globalisation and privatisation?

Q. Briefly explain planning and organising functions of management.

Join BYJU'S Learning Program