planning Quiz-2

''If there was no planning, employees would be working in different directions and the organisation would not be able to achieve its desired goals.'' Identify the point of importance of planning highlighted above.

• Planning reduces risk of uncertainty

• planning promotes innovative ideas

• planning provides direction

• planning facilitates decision making

''Changes or events cannot be eliminated but they can be anticipated and managerial responses to them can be deloped.'' Identify the point of importance of planning highlighted above.

• Planning reduces risk of uncertainty

• planning promotes innovative ideas

• planning provides direction

• planning facilitates decision making

''Since planning is the first function of management , new ideas can take the shape of concrete plans.'' Identify the point of importance of planning highlighted above.

• Planning reduces risk of uncertainty

• planning promotes innovative ideas

• planning provides direction

• planning facilitates decision making

We have often seen in our daily lives also, that things do not always go according to plan______ affect our business plans.

• Unforseen events and changes

• legal regulations

• Rise in cost and prices

• All of these

planning is concerned with the future which is uncertain. Therfore, the manager is required to make certain assumptions. These assumptions are called__________

• Ends

• Alternatives

• Premises

• Ideas

"An innovative course may be adopted by involving more people and sharing their ideas." Identify the step of planning function of management highlighted above.

• Setting objective

• Developing premises

• Identifying alternative course of action

• Evaluating alternative courses

"An innovative course may be adopted by involving more people and sharing their ideas." Identify the step of planning function of management highlighted above.

• Setting objective

• Developing premises

• Identifying alternative course of action

• Evaluating alternative courses

"Each alternative course of action has may variables which have to be weighted against each other." Identify the step of planning function of management highlighted above.

• Setting objective

• Developing premises

• Identifying alternative course of action

• Evaluating alternative courses

"In financial plans, the risk-return trade-off is very common.The more risky the investment, the higher the returns it is likely to give. To evaluate such porposals detailed calculations of earnings, earnings per share, interest, taxes, divedends are made and decisions taken." Identify the step of planning function of management highlighted above.

• Setting objective

• Developing premises

• Identifying alternative course of action

• Evaluating alternative courses

"This is the real point of decision making. The best plan has to be adopted and implemented." Identify the step of planning function of management highlighted above.

• Setting objective

• Developing premises

• Identifying alternative course of action

• Selecting an alternative