Which is the following not a defination of Planning?
Planning is the thinking process, the organised foresight, the version based on facts and experience that is required for intellectual action
Planning is chalking out plan of action, i.e. the result envisaged in the line of action to be followed, the stages to go through the methods to use
Planning is the deciding of a course required for reaching organisational goals, The line of action is decided in advance so that actual execution becomes easy.
Planning is the deciding in advance what to do, how to do and who is to do it. Planning bridges the gap from where we are to go. It makes it possible for things to happen.
Planning is the deciding in advance what not to do, how to do and who is to do it. Planning bridges the gap from where we are to go. It makes it possible for things to happen.
Which is the charecteristics or features of Planning?
Planning is a mental exercise, Planning is primacy, Planning is continuous, Planning is forward looking
Planning involves decision breaking, Planning is not Pervasive, Planning not focus on objectives
Planning involves decision making, Planning is Pervasive, Planning focus on objectives
A&C
Which function of management is considered as base of all other functions?
Planning
organising
Directing
Controlling
What is the prinary function of management?
Planning
Organising
Directing
controlling
What is meant by primacy of planning
Planning is the first function and other functions are not based on it.
Planning is the first function and other functions are based on it.
Planning is the Second function and other functions are based on it.
Planning is the strong function and other functions are based on it.
Why is it said that planning is futuristic?
Because it is not done for the coming periods.
Because it is done for the past periods.
Because it is done for the coming periods.
Because it is done for the present periods.
Why is planning called continuous process?
The process of planning ends with the preparation of a plan, the changes happening in future needs to be incorporated in it.
The process of planning does not end with the preparation of a plan, the changes happening in future needs to be incorporated in it.
The process of planning does end with the preparation of a plan, the changes happening in future needs to be incorporated in it.
A&C
Why is planning called pervasive?
Because Planning is done by all managers at different levels of management
Because Planning is not done by all managers at different levels of management
Because Planning is done by Top level managers by top levels of management
none
What are the steps in planning process?
1. Awareness of opportunities 2. Setting objectives 3. Developing planning premises 4. Identifying Alternative course of Action 5. Evaluating different alternatives 6. Selecting an Alternative 7. Implementation of plans 8. Follow up Action
1. Awareness of opportunities 2. Setting objectives 3. Developing planning premises 4. Identifying Alternative course of Action 5. Evaluating different alternatives 6. Selecting an Alternative 7. Follow up Action 8. Implementation of plans
1. Awareness of opportunities 2. Setting objectives 3. Developing planning premises 4. Evaluating different alternatives 5. Identifying Alternative course of Action 6. Selecting an Alternative 7. Implementation of plans 8. Follow up Action
1. Awareness of opportunities 2. Setting objectives 3. Developing planning premises 4. Identifying Alternative course of Action 5. Evaluating different alternatives 6. Implementation of plans 7. Follow up Action 8. Selecting an Alternative
Plans are classified as:
1. Single use plans & 2. Classified Plans
1. Single use plans & 2. Deriving Plans
1. Single use plans & 2. Standing Plans
none
Which plans are made for handling non-recurring problems?
Standing plan
Single use plan
Objective
Method
Single use plan is/are
used only once
made to meet demand for specific situation
discarded when the situation is over
made for every new situation
All the above
A&B only
Which plans are made to be used time and again?
Single use plan
Standing plans
Strategy / long tern plan
none
Which plans are stable in nature?
Standing
Single use
Streategic
policy
Which plans are used as guidelines for smooth working of an organization?
Policy
Single use
Standing
Objective
............. are the goals established to guide the efforts of the company and its various constituents
Objectives
Policy
Method
Rule
............... is acomprehensive plan to achive organisational objectives
Policy
Strategy
method
rule
.......................... are the general statements which are formulated by an organization for the guidence of its employees.
method
budget
policy
programme
...................... are details of action or the guideline for the achievement of business objectives.
Procedure
Rules
budget
method
................. refers to the manner of performing a particular task.
Budget
Method
Rules
procedure
............. is a plan that lays down a required course of action with regard to a situation.
Procedure
methods
Rules
programmes
A ................ is the monetary or and quantitive expression of business plans and policies to be persued in future.
Budget
method
Programmes
Rules
A ....................... is a sequence of activities designed to implement policies and achieve objectives.
Programmes
Budget
Rule
Method
What is/are the limitations of planning
Planning leads rigidity
Planning is time consuming process
Planning involves Huge costs
Planning may not work in dynamic environmrent
planning reduces creativity
planning does not gurantee success
All the above
A&C only
Why is planning important?
Planning provides direction
planning reduce risk of uncertainties
planning reduce overlapping and wasteful Activities
It is a sum total of all individuals, institutions and other factors that are not outside the control of a business enterprise, but influence its performance.
It is a sum total of all individuals, institutions and other factors that are outside the control of a business enterprise, but influence its performance.
It is a sum total of all individuals, institutions and other factors that are inside the control of a business enterprise, but influence its performance.
It is a sum total of all individuals, institutions and other factors that are outside the control of a business enterprise, but not influence its performance.
Which is not a features/Characteristics of business Environment?
Totally of external factors, Specific & General factors.
Inter related factors, uncertainty, Complexity.
Inter related factors, Certainty, Complexity, Totally of external factors, Specific & General factors.
Relative Impact, Dynamic
Name some Specific Forces influencing business environment -
Customer, investors
competitors, suppliers
A&B
none
Name some General Forces influencing business environment -
Economic, Social
Political, legal
technological
All the above
Why is business environment called uncertain?
due to rapid changes that are taking place in the factors influencing it.
due to non changes that are taking place in the factors influencing it.
due to rapid changes that are taking place in the factors which are not influencing it.
none
Why business environment is important?/ Give the reasons why business environment is important?
Identifying opportunities and getting First Make Advantage, Benefitting from rapid changes, Helpful in long term planning,
Helpful in preparing Strategies, Matching Technological needs, Improving market share, Encouraging research & Development
First Make Advantage, Benefitting from rapid changes, Helpful in long term planning, Discouraging research & Development
A&B
Why is it said that business environment is a "Relative Concept"?
because environmental changes may not have more impact on one company as compared to the other company
because environmental changes may have more impact on relatives company as compared to the other company
because environmental changes may have more impact on one company as compared to the other company
none
Inflation, interest rates changes in disposable income of people, value of rupees, capital markets, demand patterns, foreign exchange regulations are the factors of -
Economic Environment
Social Environment
Technological Environment
Legal Environment
Traditions, values and ethics, social trands are
Economic Environment
Social Environment
Political Environment
Legal environment
Which Environment relates to scientific improvements and innovations which provide new and better ways of producing goods and services and new methods and techniques of operating business
Legal Environment
Economic Environment
Social Environment
Technological Environment
Which Environment consists of factors relating to government affairs.
Social Environment
Political Environment
Economic Environment
Legat Environment
Which Environment refers to the framework of laws and legislations within which a business enterprise has to work?
Legal Environment
Social Environment
Economic Environment
Political Environment
What are the features of new industrial / economic policy?
Abolition of Industrial Licensing, Limited Role for Public Sector, Liberalisation of Foreign Investments, Liberalised Foreign Trade,
Technology upgradation, Setting up Foreign Investment Promotion Board, Incentives for small scale sector
Abolition of Industrial Licensing, Unliimited Role for Public Sector, Liberalisation of Foreign Investments, Liberalised Foreign Trade,
A&B
New economic policy made major changes in relation to
Liberalisation, Personalization, Globalisation
Liberalisation, Privatisation, Globalisation
Liberalisation, Privatisation, Nationalisation
Liberalisation, Semi Privatisation, Globalisation
Which is the process of freeing the economy from license system and other regulations?
Liberalisation
Privatisation
Globalisation
none
Why Privatisation was needed?
There was a need for more and more investments and government had limited resources. Need for professional management, Freedom
Freedom in decision making process, Use of resources properly There was a need to bring personal touch in working
There was a need for more and more investments and government had unlimited resources. No need for professional management, Freedom
A&B
What do you mean by Globalisation?
Globalisation means integrating the economy of a country with the world economy.
Globalisation means integrating the economy of a country within the nations economy.
Globalisation means integrating the economy of a country with the world wealth.
none
What are the impacts of Government Policy changes on Business?
Ease in entering Business, Increase in competitinous, Rapidly changing Technology Environment, More demanding customers
New marketing strategies, Emphasis on machine Development, Trust on import, Change in public sector policy
New marketing strategies, Emphasis on Human Resource Development, Trust on Export, Change in public sector policy
A&C
What is meant by liberalisation of Economy?
Liberalisation is the process of engaging the economy from license system and other regulations
Liberalisation is the process of freeing the economy from license system and other regulations
Liberalisation is the process of demanding the economy from license system and other regulations
all of the above
Which policy of the government has marched India towards liberalisation and globalisation?