Planning
Madhya Pradesh Board · Class 12 · Business Studies
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What is planning in management?
The first step in the planning process is:
Which type of plan is developed for a one-time event?
The assumptions made about the future in planning are called:
Sample Questions
Which of the following are features of planning?
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Planning focuses on achieving objectives, Planning is a primary function of management, Planning is pervasive, Planning is futuristic
Planning has several key features: it focuses on achieving objectives, is a primary function of management, is pervasive (required at all levels), and is futuristic (looks ahead). It is not limited to top management only and is not a one-time activity but continuous.
Planning provides direction for action.
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True
This statement is true. 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 and in which direction.
Which of the following are limitations of planning?
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Planning leads to rigidity, Planning reduces creativity, Planning involves huge costs
Planning has several limitations including rigidity (difficulty in changing pre-decided plans), reduced creativity (as employees just follow plans), and huge costs (time and money for formulation). Planning does not guarantee success and may not work well in dynamic environments.
A _______ is a statement of expected results expressed in numerical terms.
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