Business Studies 1 Marks Question

State the main aspects in the concept of planning.

What is meant by single use plan?

Define 'Planning premises'.

A company needs a detailed plan for its new project-construction of shopping mall. What type of plan is it?

Name the type of plan which is time bound and linked with measurable outcome.

Give two examples of objective and policy.

Describe the features of an ideal plan.[Hint: Give explanation from the features of planning; only little variations in headings has to be done.]

'Sometimes planning fails in spite of the best efforts of management.' Do you agree? Give any five reasons in support of your answer

"Planning is not a guarantee of success of a business." Comment.

'No enterprise can achieve its objectives without systematic planning.' Do you agree with this statement? Give any five reasons in support of your answer.

Give two examples of limitations of planning, which are beyond the control of an organisation.

Planning function of management is conducted at which level of management?

At which level of management more time is consumed on planning as compared to other levels?

Which plan helps in analysing competitor's policy?

A company wants to introduce a new product. What type of plan should it prepare?

Define derivative plans.

In which step of planning process the planners make predictions and assumptions regarding future?

McDonald co. does not give its franchise to any other co. which is running food business. This is related to which type of plan?

No smoking-this statement is related to which type of plan?

Which plan suggests actions and non-actions of employees?

In which type of plan the sequences to perform a job are determined?

State any two types of plans.

Which limitation of planning suggests that the employees stop thinking and become the blind followers of plan?

Define policy.

Name any two features of planning.

Which function of management is considered as the base of all other functions?

ABC Ltd. announced a plan that nobody would smoke in the organisation premises and they further added that certain penalty will be imposed on employees, overlooking this.(i) Name the type of plan related to above para.(ii) Name the feature of that plan.(iii) Name the values emphasised by the company.

Alpha Ltd. spent a lot of money to hire specialised people for framing their plans and collecting important facts from environment. The company cut down their cost by cancelling the employee's trip for recreation.(i) Name the limitation of planning mentioned in above para.(ii) Name the value overlook by management.

The management of ABC Ltd. set up the target of selling 10,000 units per week and made all their plans based on this target. But due to change in technology adapted by competitors which reduced their cost, the ABC Ltd. could not achieve their target.(i) Identify the limitation of planning discussed in the above para.(ii) State any other two limitations.

Palvinder, is working as a supervisor in Alpha Ltd. To achieve the target, he wants to try a new method and a different way of allocating the work. His superior did not permit him and forced him to do the work strictly as per the plan.(i) Name the limitation of planning indicated in the above para.(ii) Name the value overlook by Palvinder's superior.

Bhuvan Ltd. is a garment manufacturing company. The company regularly scans business environment and constantly adapts itself to the changes in environment. With all these efforts also it became difficult for company to foresee future trends. Competition in the market effects the financial plan of the company, sales targets have to be revised which in turn effect the cash budget.(i) Name and explain the limitation of planning highlighted in the above para.(ii) Identify the two types of plans mentioned in above para.

The production manager of a company received the complaint that the quality of the goods was not good. After investigation, it came to light that the machines had become very old. That is why, they were unable to achieve standardised quality. The production manager developed several options by way of solution to this problem. Example, getting the machines repaired, purchasing new local machines, purchasing new imported machines, if possible taking machines on rent, etc. The CEO of the company wanted the list of options to be smaller, so that a thorough study could be made for them. In order to make the list of optional ways smaller, he decided to give up all those options which required the investment of more than ₹ 10 crores.(a) Identify the concept described in the paragraph given above.(b) What do you understand from the fact of company fixing the maximum investment limit on options?

In 'Chak De' movie, Shah Rukh Khan becomes the coach of the girl's hockey team. He knows that he has to prepare the girls for the international hockey match and win the cup. For this, he prepares a long term plan and thinks of ways of how to beat the opponent team. He coaches the girls to play in different ways like defensive, offensive, etc.At the outset of the match, he explains who will open the match, and how the ball will be passed by one player to another step by step.Identify all the types of plans mentioned above. State them along with lines which refer to them in the above paragraph.

Which type of plan has least flexibility?

Name the type of plan which provides directions for all decisions, and actions.

Name the type of plan which provides the basis for interpreting the strategy.

Name the type of plan in which minutest details are worked out, i.e., procedures, rules, budgets, etc.

ABC Ltd. gives promotion on the basis of seniority. Which type of plan is it?

What type of plan is defined as long range blue print of an organisation's desired image, direction and destination?

An employee will retire at the age of 60 years. What type of plan is it?

'ABC Ltd.' decides to advertise their product on T.V. and radio. What type of plan should it prepare?

Give two examples of external premises.

Give two examples of internal premises.

On the introduction of Goods and Services Tax Act, experts in the field of business started analysing and forecasting its impact on various sectors and industries. Vivek, an established businessman, attended a few seminars and conferences organised by such experts to familiarise himself with this information. He wanted to use these forecasts to reduce the uncertainty in making decisions for the future in his business.Name the step in the planning process that is being discussed in the above paragraph.