"They define the future state of affairs which the organization strives to realize and serve as guide for overall business planning."

_______________ is the type of plan referred here.

Identify the type of plan not highlighted in the case.

Which of the following are the importance of Planning?

(A) Planning provides direction

(B) Planning reduces overlapping and wasteful activities

(C) Planning promotes innovative ideas

(D) Planning reduces the risk of certainty

Choose the correct answer from the options given below:

"Managers have a tendency to rely on previously tried and tested successful plans." This statement is related to:

A statement of expected results expressed in numerical term which quantifies future facts and figures represent which type of plan?

Aren has completed his studies and now wants to start his own business. He has undertaken the given steps in the planning process. Rearrange them to create the correct process of planning.

A. He has forecasted the demand of his products, interest rate, price of capital goods, tax rate

B. Aren decides to produce in bulk to reduce cost of production

C. Aren found out that increasing price and reducing quality will reduce his customers, but producing in bulk will increase customers

D. Aren sets an objective to earn 20% profit in the first year of business

E. To achieve the target, Aren can reduce price of product or reduce quality of raw material or produce in bulk to reduce cost of production.

Choose the correct answer from the options given below:

Which of the following are the types of plan?

(A) Rule

(B) Policy

(C) Strategy

(D) Vision

Choose the correct answer from the options given below: