GENERAL KNOWLEDGE

Detailed explanation-1: -Goal/ an objective that a business hopes and plans to achieve. Strategy/ broad set of organizational plan for implementing the decision made for achieving organizational goal.

Detailed explanation-2: -Why goal setting is important. Goals are an important part of running a successful business. They can give you a clear focus, motivate employees and set targets for your business to work towards. Goal setting can also provide you with a set of criteria to see if your business is succeeding.

Detailed explanation-3: -The fundamental goal of strategic management is to help a business reach its purpose. Strategic management policy figures out what actions to be followed; and thus what decisions to be taken that shorten the firm’s goals to be achieved.

Detailed explanation-4: -Planning helps organisation to achieve its goals by setting specific objectives along with the activities to be undertaken to achieve the objectives. Planning has no meaning unless it contributes to the achievement of predetermined organisational goals.