Question : Which type of plan is developed to address unexpected events or situations?
Option 1: Strategic plan
Option 2: Operational plan
Option 3: Contingency plan
Option 4: Tactical plan
Correct Answer: Contingency plan
Solution : The correct answer is (c) Contingency plan.
A contingency plan is a type of plan that is created to provide guidance and actions to be taken in response to unforeseen events, emergencies, or potential disruptions. It is designed to mitigate risks, minimize negative impacts, and ensure continuity of operations in challenging or unexpected circumstances. Contingency plans typically outline alternative courses of action, response procedures, resource allocation, and communication strategies to handle various contingencies effectively.
Question : Which type of plan is developed to guide the day-to-day operations of an organization?
Question : Which type of plan specifies the organization's overall goals and the means to achieve them?
Option 1: Tactical plan
Option 3: Strategic plan
Option 4: Contingency plan
Question : The Hierarchy of Plans includes which of the following levels?
Option 1: Organizational plans, operational plans, and tactical plans
Option 2: Organizational plans, strategic plans, and contingency plans
Option 3: Tactical plans, operational plans, and financial plans
Option 4: Contingency plans, budget plans, and marketing plans
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 2: Strategic plan
Option 4: Operational 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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