Question : A company wants to introduce a new product. What type of plan should it prepare?
Option 1: Objective
Option 2: Strategy
Option 3: Policy
Option 4: None of these
Correct Answer: Strategy
Solution : Strategy formulation is the task of top level people and it is must to scan and understand clearly the business environment before framing the strategy. Strategy defines the future decision regarding the organisation direction and scope in the long run. Strategy directs future direction making and scope in long run. Hence, option 2 is the correct answer.
Question : Case Study: XYZ Manufacturing Company
XYZ Manufacturing Company is a well-established firm that produces consumer electronics. The management is planning to launch a new line of smart home appliances. Question: The type of plan that XYZ Manufacturing Company should develop to introduce the new line of smart home appliances is:
Option 1: Tactical plan
Option 2: Strategic plan
Option 3: Contingency plan
Option 4: Operational plan
Question : Which plan defines as the formalised of systematic way of doing routine and repetitive jobs?
Option 3: Method
Question : Some plan are used repeatedly in similar situations. Identify the type of plan.
Option 1: Standing plan
Option 2: Single use plan
Option 3: Policy plan
Option 4: None of the above
Question : Case Study: DEF Educational Institute
DEF Educational Institute is a reputed school offering various academic programs. They are planning to introduce a new vocational course.
Question:
The type of plan that DEF Educational Institute should develop to implement the new vocational course is:
Option 1: Strategic plan
Option 2: Operational plan
Option 4: Tactical plan
Question : Case Study: ABC Educational Institute
ABC Educational Institute is a reputed school with a large student population. The management is planning to introduce a new curriculum to meet the changing educational needs. Question: The type of plan that ABC Educational Institute should develop to implement the new curriculum is:
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