CBSE Class 12 Business Studies 2017 Delhi set 2

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Question : 4 of 5
 
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Give the meaning of 'procedure' and 'rule' as types of plans.
Solution:
Procedure: It consists of sequence of routine steps performed in a chronological order to carry out activities within a broad policy framework. It details the exact manner in which any work is to be performed.
Rule: A rule is a statement that specifies what is to be done or not to be done. It is a guide to behaviour. A rule does not allow any flexibility or discretion and prescribes a penalty for violation.
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