MIXED MCQs

from
Ch 4 Planning
Business Studies
SUMMARY-XII CBSE
VIVA the School expects all the students shall
attend the school without fail.
 Planning Concept
1. Planning is deciding in advance what to
do and how to do it.
2. It is one of the basic managerial
functions.
3. Planning, therefore, involves setting
objectives and developing an
appropriate course of action to achieve
these objectives.
 Importance of Planning
1. Planning provides directions,
2. reduces risks of uncertainty,
3. reduces overlapping and wasteful activities,
4. promotes innovative ideas,
5. facilitates decision making,
6. establishes standards for controlling.
 Features of Planning
1. Planning focuses on achieving objectives;
2. It is a primary function of management;
3. Planning is pervasive, continuous,
futuristic and
4. Planning involves decision making;
5. Planning is a mental exercise.
 Limitations of Planning
1. Planning leads to rigidity;
2. reduces creativity;
3. involves huge costs;
4. It is a time-consuming process;
5. Planning does not work in a dynamic
environment; and
6. does not guarantee success.
1.
Planning Process
Setting objectives: Objectives may be set for the entire organization and each
department or unit within the organization.
2. Developing premises: Planning is concerned with the future which is uncertain
and every planner is using conjuncture about what might happen in the future.
3. Identifying alternative courses of action: Once objectives are set, assumptions
are made. Then the next step would be to act upon them.
4. Evaluating alternative courses: The next step is to weigh the pros and cons of
each alternative.
5. Selecting an alternative: This is the real point of decision-making. The best plan
has to be adopted and implemented.
6. Implement the plan: This is concerned with putting the plan into action.
7. Follow-up action: Monitoring the plans are equally important to ensure that
objectives are achieved.
 Types of Plans
1. Objectives: Objectives therefore can be said to be the desired future position
that the management would like to reach.
2. Strategy: A strategy provides the broad contours of an organization's business.
It will also refer to future decisions defining the organisations direction and
scope in the long run.
3. Policy: Policies are general statements that guide thinking or channelize
energies towards a particular direction.
4. Procedure: Procedures are routine steps on how to carry out activities.
5. Rule: Rules are specific statements that tell what is to be done.
6. Programme: Programmes are detailed statements about a project which
outlines the objectives, policies, procedures, rules, tasks, human and physical
resources required and the budget to implement any course of action.
7. Budget: A budget is a statement of expected results expressed in numerical
terms. It is a plan which quantifies future facts and figures.
• 1. What are the qualities of a Good Leader
• 2. What are the elements of Business Environment
• 3. What are the Online training Methods
• 4. What are the Offline training Methods
• 5. What are the duties of HR Manger
• 6. Impact of Government’s policy change on Business
• 7. Explain the Process of Recruitment
• 8. What are the specific functions of Controlling
• 9. State the important elements of Directing
• 10. Explain the functions of Supervising
• 11. What are the advantages and disadvantages of Planning
• 12. The features of formal and informal communication
• 13. What are the barriers to Communication
• 14. Discuss Maslow’s Need Hierarchy theory of motivation.
• 15. Explain different financial and non-financial incentives used to motivate employees of a
company.
• 16. Define the staffing process and the various steps involved in it
• 17. Relationship between Controlling and Planning
• 18. What are the problems faced by the organization in implementing an effective control system?
• 19. Distinguish between centralization and decentralization.
• 20. What are the steps taken by management in the planning process?
• 21. How does the informal organization support the formal organization?
• 22. Explain the importance of organizing.
• 23. Explain, with examples, the various dimensions of the business environment.
• 24. Why is delegation considered essential for effective organizing?