Final answer:
The question revolves around managerial strategies used for recurring situations in business management. These strategies, akin to master plans, help in decision-making and are put into practice through business simulations, case studies, and real-world applications to effectively solve managerial problems.
Step-by-step explanation:
The plans being referred to in the question are managerial strategies that are designed to be used in recurring managerial situations. These are essentially problem-solving strategies that are generalized to handle common scenarios that arise in the field of management. Once devised, they serve as a master plan or a 'break glass in case of emergency' safeguard to guide managers in taking appropriate action quickly and effectively.
Examples of these strategies can be seen in various contexts, such as business simulations or case studies where they are applied to real-life situations. This helps individuals learn and practice how these strategies can be employed in both theory and practice. Often found in academic and training materials, these strategies are critical for success in both the classroom and the workplace.
Furthermore, the application of these strategies is not only confined to hypothetical scenarios. Scholars also use these managerial strategies to predict behaviors and choices in real-world settings, supported by evidence from real cases where these strategies have been employed.
The complete question is: These are plans that are used again and again, and they focus on managerial situations that recur repeatedly. is: