Step 1: Concept
In management, planning involves formulating various types of plans to achieve organizational goals. These are broadly classified into standing plans and single-use plans.
Step 2: Meaning
The standard recognized types of plans include Objectives, Strategy, Policy, Procedure, Method, Rule, Programme, and Budget.
Step 3: Analysis
• Strategy is a comprehensive plan designed to achieve the long-term objectives of an organization.
• Procedure details the exact sequential steps to be followed to execute a particular activity.
• Policy is a general guideline that brings uniformity in decision-making and action.
• Mission is a broad statement defining the core purpose and reason for an organization's existence. While it guides planning, it is not classified strictly as a specific "type of plan" in operational management taxonomies.
Step 4: Conclusion
Mission serves as the foundation for setting objectives and plans, but is not categorized as a distinct plan itself.
Final Answer: (B)