Planning
Chhattisgarh Board · Class 12 · Business Studies
Flashcards for Planning — Chhattisgarh Board Class 12 Business Studies. Quick Q&A cards covering key concepts, definitions, and formulas.
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See them allWhat is Planning? Define it in the context of management.
Answer
Planning is deciding in advance what to do and how to do it. It is one of the basic managerial functions that involves setting objectives and developing appropriate courses of action to achieve these …
List the six main importance/benefits of Planning.
Answer
1. Planning provides directions 2. Planning reduces the risks of uncertainty 3. Planning reduces overlapping and wasteful activities 4. Planning promotes innovative ideas 5. Planning facilitates decis…
How does planning provide directions to an organization?
Answer
Planning provides directions by stating in advance how work is to be done. It ensures that goals are clearly stated so they act as a guide for deciding what action should be taken. When goals are well…
What are the seven features of Planning?
Answer
1. Planning focuses on achieving objectives 2. Planning is a primary function of management 3. Planning is pervasive 4. Planning is continuous 5. Planning is futuristic 6. Planning involves decision m…
Explain why planning is called a 'primary function' of management.
Answer
Planning is called a primary function because it lays down the base for other functions of management. All other managerial functions (organizing, staffing, directing, controlling) are performed withi…
What does 'Planning is pervasive' mean?
Answer
Planning is pervasive means it is required at all levels of management and in all departments. It's not exclusive to top management. However, the scope differs: top management does organizational plan…
List the six major limitations of Planning.
Answer
1. Planning leads to rigidity 2. Planning may not work in a dynamic environment 3. Planning reduces creativity 4. Planning involves huge costs 5. Planning is a time-consuming process 6. Planning does …
How does planning lead to rigidity? Explain with reasoning.
Answer
Planning leads to rigidity because well-defined plans with specific goals and time frames decide the future course of action. Managers may not be in a position to change these plans even when circumst…
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