Question:
Explain the following types of plans :
(i) Objective
(ii) Method
Explain the following types of plans :
(i) Objective
(ii) Method
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An objective is the end the firm wants to reach, and a method is the prescribed manner of performing a routine task. Give an example of each.
Updated On: Oct 26, 2026
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Solution and Explanation
Step 1: Plans in general:
A plan is a ready design of action. NCERT describes many types of plans, from the objective at the top down to the budget and the programme. We explain two of them.
Step 2: (i) Objective:
An objective is the end point towards which all activities are directed. It is what the business wants to achieve.
It is the base of all other plans and gives the whole organisation one direction. For example, a firm may aim to raise its sales by ten percent in one year.
Step 3: (ii) Method:
A method is a plan that lays down the way in which a routine job is to be done. It gives the manner in which each step is to be taken.
It is concerned with one task only, and it helps in saving effort and time. It is more detailed than a procedure. For example, a method may state the way in which an invoice is to be filled.
Step 4: Link between the two:
The objective tells where to reach, and the method tells how to carry out a task on the way.
Final Answer:
An objective is the end result to be achieved, while a method is the prescribed manner of doing a routine task.
A plan is a ready design of action. NCERT describes many types of plans, from the objective at the top down to the budget and the programme. We explain two of them.
Step 2: (i) Objective:
An objective is the end point towards which all activities are directed. It is what the business wants to achieve.
It is the base of all other plans and gives the whole organisation one direction. For example, a firm may aim to raise its sales by ten percent in one year.
Step 3: (ii) Method:
A method is a plan that lays down the way in which a routine job is to be done. It gives the manner in which each step is to be taken.
It is concerned with one task only, and it helps in saving effort and time. It is more detailed than a procedure. For example, a method may state the way in which an invoice is to be filled.
Step 4: Link between the two:
The objective tells where to reach, and the method tells how to carry out a task on the way.
Final Answer:
An objective is the end result to be achieved, while a method is the prescribed manner of doing a routine task.
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