Class 12 Business Studies Important Chapter 4 Planning Solutions English Medium As Per The New Syllabus to each chapter is provided in the list so that you can easily browse through different chapters ASSEB Class 12 Business Studies Important Solutions in English and select need one. AHSEC Class 12 Business Studies Additional Notes Download PDF. HS 2nd Year Business Studies Additional Solutions.
Class 12 Business Studies Important Chapter 4 Planning
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. ASSEB Class 12 Business Studies Additional Question Answer are part of All Subject Solutions. Here we have given HS 2nd Year Business Studies Important Solutions English Medium for All Chapters, You can practice these here.
Planning
Chapter: 4
| PART – A Principles and Function of Management |
| IMPORTANT QUESTION AND ANSWER |
Answer The Following Questions:
1. What is the definition of planning?
Ans: Planning is deciding in advance what to do and how to do it. It involves setting objectives and developing appropriate courses of action to achieve those objectives. It is an essential managerial function that helps in achieving predetermined goals.
2. What is the primary importance of planning for businesses?
Ans: Planning provides direction, reduces risks of uncertainty, ensures efficient use of resources, and helps in decision-making. It also sets standards for controlling activities and helps achieve organizational goals.
3. Explain the role of objectives in planning.
Ans: Objectives provide direction and set the targets that need to be achieved. They act as guides for decision-making and actions, ensuring all efforts are aligned towards a common goal.
4. How does planning reduce overlapping and wasteful activities?
Ans: Planning ensures clarity in action by defining goals and roles, minimizing confusion and inefficiencies. It helps in coordinating different activities, eliminating redundancies, and enhancing productivity.
5. Why is planning considered a continuous process?
Ans: Planning is continuous because after each plan is implemented, it is reviewed and revised based on changing conditions. The process involves setting new objectives as the environment evolves, making planning a recurring activity.
6. What are the limitations of planning?
Ans: Planning can lead to rigidity, reduce creativity, and may not always work in dynamic environments. It can also be time-consuming and costly, and does not guarantee success if the plan is not properly implemented.
7. How does planning contribute to decision-making?
Ans: Planning helps managers anticipate future events and decide on the best course of action by evaluating alternatives. It helps in making rational and informed decisions that align with organizational goals.
8. What is the importance of time in planning?
Ans: Time is a limited resource in planning. Proper time management ensures that plans are acted upon within the stipulated time frame. Failure to manage time can render plans ineffective as conditions may change.
9. What is the difference between a single-use plan and a standing plan?
Ans: A single-use plan is designed for a one-time event or project and is not repeated. A standing plan, on the other hand, is used for recurring activities and helps in the smooth functioning of daily operations.
10. Explain the concept of ‘Premises’ in the planning process.
Ans: Premises are assumptions made about the future that form the base for developing plans. These assumptions may involve forecasts, existing plans, or past information and are critical in ensuring the success of the planning process.
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