List of top Business Studies Questions on Planning

Explain the following steps in the process of planning :
(i) Setting objectives
(ii) Developing premises
(iii) Identifying alternative courses of action

Explain the following features of planning function of management :
(i) Planning is a mental exercise
(ii) Planning involves decision making
(iii) Planning is futuristic

Explain the following points of importance of planning:
(i) Planning provides directions
(ii) Planning reduces overlapping and wasteful activities
(iii) Planning establishes standards for controlling.

Match the type of plan given in Column-I with its meaning in Column-II :
Column-I - Column-II
a. Policy - (iv) A general statement that guides thinking.
b. Programme - (ii) Detailed statement about a project.
c. Method - (i) Prescribed way in which a task is performed.
d. Strategy - (iii) Comprehensive plan taking environment into consideration.
Choose the correct alternative :

‘Renew Ltd.’ was the pioneer in the Electric Vehicles segment and presently has 70% market share. Keeping in mind the rapidly increasing demand for Electric Vehicles due to the rising environment consciousness among people and lower operating costs, the company set a target to increase its market share to 80% in the current year. However, the incentives provided by the government to encourage manufacturing of Electric Vehicles attracted many new players in the market. As this change in the business environment happened suddenly, the company was not able to accurately assess future trends. As a result, the market share of ‘Renew Ltd.’ fell from 70% to 55% in the current year. Which limitation of planning has been discussed in the above case ?

A good plan should be:

Define Planning.

Arrange the steps of Planning Process in a proper order:
(A) Implementation of plan and follow-up action
(B) Developing Premises
(C) Identification and evaluation of alternative courses of action
(D) Setting up of objectives
(E) Selecting an alternative
Choose the correct answer from the options given below:

(a) Explain any four points of importance of ‘Planning’ function of management.
OR
(b) Explain the steps in the process of ‘Organising’ function of management.

‘Leno’ is a reputed car manufacturing company, which is going to complete its 75 years in October 2024. The Chief Executive Officer of the company decided to take the company to a higher level. For this he called a meeting of all departmental heads of the company. In the meeting, the Chief Executive Officer proposed a target to increase sales by 10% and profits by 20% in its Platinum Jubilee year. The Human Resource Manager estimated that an increase of 500 workers would be required to achieve the target. The Finance Manager suggested that the company must hold adequate cash balances for various purposes, and he will prepare a statement showing the estimated cash inflows and outflows for this particular period. Identify and explain two types of plans discussed in the above case.

(a) Explain any four characteristics of planning.
OR
(b) Explain any four points of importance of decentralisation.

‘Leno’ is a reputed car manufacturing company, which is going to complete its 75 years in October 2024. The Chief Executive Officer of the company decided to take the company to a higher level. For this he called a meeting of all departmental heads of the company. In the meeting, the Chief Executive Officer proposed a target to increase sales by 10 percent and profits by 20 percent in its Platinum Jubilee year. The Human Resource Manager estimated that an increase of 500 workers would be required to achieve the target. The Finance Manager suggested that the company must hold adequate cash balances for various purposes, and he will prepare a statement showing the estimated cash inflows and outflows for this particular period.
Identify and explain two types of plans discussed in the above case.

(a) Exlpain any four limitations of "Planning".
OR
(b)Explain any four points of importance of "Oragnising".

(a) State any four characteristics of planning.
OR
(b) Explain the following types of plans:
(i) Policy
(ii) Budget

(a) State any four points of importance of planning function of management.
OR
(b) Explain the following types of plans :
(i) Objective
(ii) Programme

(a) State any four limitations of planning.
OR
(b) Explain the following types of plans: (i) Strategy (ii) Procedure

Planning requires application of mind involving foresight, intelligent imagination and sound judgement. Which feature of planning is being highlighted in this statement?

Which feature of Planning function of Management is discussed in the statement – "All other Managerial functions are performed within the framework of plans drawn"?

"Planning helps the manager to look into the future and make a choice amongst alternative courses of action." Identify the importance of Planning in the above statement.

Which is the correct sequence of steps in the process of planning?
(A) Developing premises
(B) Implementing the plan
(C) Setting objectives
(D) Identifying alternative courses of action and evaluating them
(E) Selecting an alternative
Choose the correct answer from the options given below: