23. Explain the difference between Procedures and methods on the basis of Scope, flexibility and purpose
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Important Questions for CBSE Class 12 Business Studies Different Types of Plan
December 8, 2019 by Sastry CBSE
Planning Important Questions for CBSE Class 12 Business Studies Different Types of Plan
1. Meaning of Plan
A plan is a specific action proposed to help the organisation in achieving its
objectives. It is a document that outlines how goals are going to be met.
2. Different Types of Plan
Single use plan Plans which are formulated for one time event or project. Such an action is not expected to be repeated in future. Such plans are developed to meet the needs of a unique situation. Types of such plans are projects and programmes.
Standing plans Plans which are formed for the activities which occur regularly over a period of time. It is formed so the operations of the organisation can run smoothly. Types of such plans are policies, procedures, methods, rules, etc
Objectives These are defined as ends which the management seeks to achieve by its operations.
Strategy A strategy is a comprehensive plan for accomplishing an organisation’s objectives.
Policies These are general guidelines which facilitate achievement of pre determined objectives.
Procedures It is a stipulated sequence of a course of action for handling activities.
Methods It provides prescribed ways or manner in which a task has to be performed considering the objective.
Rules These are the specific statements that informs what is to be done and what not.
Programme These are the combination of objectives, policies, procedures and rules, for a project. ‘
Budgets A budget is a plan which states expected results for a given future period in numerical terms.
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