Economics · Principles of Management
In managerial terms, what is a 'POLICY'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A planned target of performance or the desired end result of a specific activity.
- 2A unified and critical plan prepared for meeting the challenges posed by environmental forces.
- 3A set of chronological steps determined in advance for completing a time-bound activity.
- 4General statements or understandings which guide or channel thinking and action in decision-making.✓
Correct answer
General statements or understandings which guide or channel thinking and action in decision-making.
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