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Published on: 03/09/2019
Planning
Download CBSE Class 12th Standard CBSE Business Studies question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Business Studies
Questions + Answers key
Take MCQ Business Studies Test
1.
Give the meaning of 'policy' as a type of plan.
2.
Planning is based on certain assumptions about the future.What are these assumptions called?
3.
What is meant by 'selecting an alternative' as a step in planning process?
4.
State a measure to overcome limitations of planning.
5.
State two benefits of planning.
6.
Planning enables a manager to look ahead and anticipate changes. Identify, which benefit of planning is highlighted here?
7.
How does planning facilitate control?
8.
'Planning eliminates uncertainties'. Do you agree? Give reason in support of your answer.
9.
'Planning is done for achieving the organisational goals'. Do you agree? Give one reason in support of your answer.
10.
What are derivative plans and why they are formulated?
11.
Explain how planning is futuristics.
12.
Is planning necessary for effective management? Give reasons in support of your answer
13.
Difference between 'method' and 'budget' as types of plans.
1.
( )
Policy is a general statement that defines the boundaries, within which decisions are made and they direct decisions are made and they direct decisions towards the accomplishment of objectives.It comes under the standing plan, as it answers to recurring problems of a similar nature.
2.
( )
Planning premises.
3.
( )
Selecting an alternative means choosing the best course of an action.The ideal plan should be the most feasible, profitable and with least negative consequences.
4.
( )
The system of control should be directly associated with planning so that every plan is implemented properly.
5.
( )
Two benefits of planning are:
(i) It encourages innovation and creativity.
(ii) It bridges the gap between where we are and where we want to go.
6.
( )
Planning reduces the risk of uncertainty.
7.
( )
It is said that planning is pre-requisite for controlling because planning provides the standards with which actual performance is compared, evaluated and hence controlled by the managers.
8.
( )
No, I do not agree with the statement because planning anticipates uncertainties, not eliminates them.However, it helps to reduce the risk of uncertainties.
9.
( )
Yes, planning cnsures that goals or objectives are clearly stated so that they act as a guide for deciding what action should be taken and in which direction.
10.
Derivative plans are the supporting plans, which are formulated for executing the primary plan.
When the primary plan is decided, the next logical step is to formulate the derivative plans.e.eg. if the basic plan is to increase the sale of a product, the derivative plans would be to recruit and train employees, launch an advertising campaign, procure funds, etc.
11.
Planning is looking ahead, as it based on forecasting and is prepared for the future, analysing it and predicting it.Thus, it is a futuristic process.
12.
Planning is deciding in advance what to do, how to do and by whom.It bridges the gap between 'where we are and where we want to go'.
13.
Difference between method and budget
| Basis | Method | Budget |
| Meaning | It provides the prescribed ways or manner, in which a task is performed. | It provides statement of expected results, expressed in numerical terms. |
| Purpose | They provide standardised ways of doing routine jobs. | They provide a basis of control of activities. |
| Kind | They come under, standing plans | They come under single-use plans. |
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