Business Studies Ch 4

Planning enables the managers to look ahead and anticipate changes. Which importance of planning is highlighted here.

• Planning provides direction

• Planning reduces the risk of uncertainty

• Planning facilities decision making

• Planning promotes innovative ideas

Which feature of planning states that planning is purposeful

• Planning is pervasive

• Planning is continous

• Planning is futuristic

• Planning focuses on achieving objectives

Following a pre decided plan, when circumstances have changed may not turn out to be in the organisation’s interest. Which limitation is being highlighted here.

• Planning leads to rigidity

• Planning reduces creativity

• Planning does not guarantee success

• Planning does not work in a dynamic environment

This step in the planning process is the real point of decision making. Identify the step.

• Implementing the plan

• Follow uo plan

• Selecting an alternative

• Evaluating alternative courses

This plan is the end result of activities.

• Objective

• Strategy

• Policy

• Rule

This plan attracts penalty if not followed. Identify it.

• Method

• Rule

• Budget

• Policy

These plans are routine steps on how to carry out activities.

• Method

• Programmee

• Procedure

• Budget