Business Studies

Planning

Medium

A strategy (comprehensive plan) includes which of the following dimensions?

(A) Determining long term objectives

(B) Determining short term objectives

(C) Adopting a particular course of action

(D) Allocating resources necessary to achieve the objective

Choose the correct answer from the options given below:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(A), (C) and (D) only

✅ Correct Option: 4

Option 1 -> (A), (B) and (D) only - This includes short term objectives which are tactical rather than strategic in nature, making it incomplete for defining a comprehensive strategy.

Option 2 -> (A), (B) and (C) only - This includes short term objectives but excludes resource allocation, which is a critical component of any comprehensive strategic plan.

Option 3 -> (A), (B), (C) and (D) - This incorrectly includes short term objectives, which are part of tactical planning rather than strategic planning.

Option 4 -> (A), (C) and (D) only - This correctly includes long term objectives, course of action, and resource allocation while appropriately excluding short term objectives.

Hence, Option 4: (A), (C) and (D) only -> A comprehensive strategy focuses on long-term vision and planning. It includes determining long-term objectives (A), adopting a particular course of action to achieve those objectives (C), and allocating necessary resources (D). Short-term objectives (B) are part of tactical or operational planning, not strategic planning, which is why they are correctly excluded from the definition of strategy -> correct

2025: 22 May Shift 1

Which of the following are the limitations of Planning?

(A) Planning leads to rigidity

(B) Planning reduces creativity

(D) Planning does not work in a dynamic environment

Choose the correct answer from the options given below:

2022: 15 July Shift 2

Amrit Lala, MD of Awasthi Ltd, retired after 33 years of service. The responsibility was given to Amit. Amit realized that there was lot of rivalry, confusion and misunderstanding among departmental heads. He detected inefficiencies, took corrective action and developed a master plan for the organisation to follow. This served as basis for coordinating the activities of all the departments, led to clarity of thought and action and the work got a smooth start.

Identify the importance of planning highlighted in the above paragraph.

2025: 30 May Shift 2

What is the primary focus of GreenTech's strategic plan?

2025: 21 May Shift 1

The function of management that requires taking decisions since it involves making a choice from alternative courses of action is known as:

2025: 30 May Shift 2

Identify the type of plan not highlighted in the case.

2026: 21 May Shift 2

Arrange the following steps of the planning process in correct order:

A. Selecting an alternative

B. Setting objectives and developing premises

C. Evaluating alternative courses of action

D. Implementing the plan

Choose the correct answer from the options given below:

Solution

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