Planning - Class 12 Business Studies - Chapter 4 - Notes, NCERT Solutions & Extra Questions
Renews every month. Cancel anytime
Your personal doubt-solving assistant
Chatterbot AI gives you 100% accurate answers to your questions in an instant.
Extra Questions - Planning | NCERT | Business Studies | Class 12
Planning enables a manager to look ahead and anticipate changes. Identify which benefit of planning is highlighted here.
The benefit of planning highlighted here is reducing the risk of uncertainty. Through planning, managers can anticipate changes and uncertain events well in advance. This foresight allows them to devise strategies to cope effectively, thus minimizing the uncertainties associated with these changes.
Who is known as the Architect of Indian Planning?
Prashant Chandra Mahalanobis is recognized as the Architect of Indian Planning.
Because of political turmoil and changes in the government, the sixth plan is known as a ____ plan.
A) Temporary
B) Rolling
C) Interim
D) None of the above
The correct answer is B) Rolling.
This is referred to as the "Rolling Plan" due to its adaptability and continuous planning process caused by the unpredictable political environment.
Is the first step in the process of planning:
A. Developing premises B. Identifying alternatives C. Evaluating alternatives D. Setting objectives
The correct answer is D. Setting objectives.
The initial step in the planning process involves setting objectives. This entails managers clearly defining the company's objectives, aligned with the overall goals of the organization. Additionally, consideration is given to the availability of physical and financial resources.
"Explain any four objectives of business."
The objectives of business are crucial for its success and growth. Here are four key objectives:
Earning Profits: A fundamental goal of any business is to generate profits. This serves as a measure of success and is essential for sustainability and growth in the competitive market.
Market Standing: Businesses strive to achieve a strong position in the market. This involves comparing their performance with competitors and aiming to be at a better or leading position.
Innovation: Innovation is vital for continuous growth and adaptation. Businesses need to continually introduce new ideas, inventions, and methods to stay competitive and respond to changing market demands.
Productivity: The efficiency of a business can be evaluated by comparing the value of output to the value of input. High productivity is indicative of a business that operates effectively and efficiently, providing greater returns on investments.
These objectives not only help businesses to thrive but also to maintain relevance and superiority in a rapidly evolving market environment.
๐ก Have more questions?
Ask Chatterbot AI