Differentiate between 'Policy' and 'Rule' as types of Plans.
Policies are general statements that guide thinking or channelise energies towards a particular direction. Policies provide a basis for interpreting strategy which is usually stated in general terms
Rules are specific statements that inform what is to be done. They do not allow for any flexibility or discretion. It reflects a managerial decision that a certain action must or must not be taken.
State any four features of planning.
State any three points of importance of planning function of management.
State any five features of planning.
Give the meaning of ‘objectives’ and ‘budget’ as types of plans.
