"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.

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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 directing of the organisation in the long run.

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Similar questions

'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.

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Q. Name the type of plan which serves as guide for overall business planning and defines the end result which organisation strives to achieve. Also give difference between this plan and policy.

Q. function of management helps in supporting future plans of an organisation.

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