Planning is a unique and universal function of all managers. Which nature of planning is being described?

These plans are developed as alternative courses of action, to be taken if events disrupt a planned course of action.

This strategic plan component states where the organization wants to be five (5) years from now.

These are specific regulations according to which an organization functions.

This planning technique is a long-term version of contingency planning that involves identifying several alternative future scenarios or states of affairs that may occur.

The decisions under this condition involves clear goals but future outcomes or their consequences are not just known. Estimates are required to be used.