Question
How does planning lead to economy and efficiency? Explain briefly.

Answer

Planning leads to economy and increased efficiency because it reduces wasteful and overlapping of activities. While planning, each alternative course is duly evaluated and the best alternative is selected which ensures best utilisation of resources. The activities are performed in a coordinated way, without any bottlenecks, minimising the cost of production and promoting efficiency in the organisation.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

Anushka is doing a course in fashion designing from an institute of repute. As a part of the course, she has been asked to take on-the-job training in an export house for a fortnight in order to gain an insight about various practical aspects related to designing. Anushka, through the references from her senior, joins an export house owned by an upcoming designer, Nandita.
In context of the above case :
  1. Name and explain the type of training which Anushka has been asked to undertake.
  2. Explain briefly any one method for providing off-the-job training.
Aakansha, Nikita and Parishma are the owners of a handicraft unit in the urban area of Dibrugarh in Assam, which is involved in the manufacturing and marketing of Sital Pati, traditional mats and Jappi (the traditional headgear). They decided to shift this manufacturing unit to a rural area with an objective of reducing the cost and providing job opportunities to the locals.
They followed the functional structure in this organisation with a view to increasing managerial and operational efficiency.
They assessed and analysed the type and number of employees required, keeping in mind that they had to encourage the women and the people with special needs belonging to the rural area.
State the next three steps that they will have to undertake for obtaining a satisfied workforce for their handicraft unit.
Distinguish between ‘monetary’ and ‘non-monetary’ incentives.
Explain any three causes of over capitalization.
ABC Ltd. is engaged in producing electricity from domestic garbage. There is almost equal division of work and responsibilities between workers and the management. The management even takes workers into confidence before taking important decisions. All the workers are satisfied as the behaviour of the management is very good.
  1. State the principle of management described in the above paragraph.
  2. Identify any two values which the company wants to communicate to society.
“All managers are leaders, but all leaders are not managers”. Do you agree with this statement? Give any three reasons in support of your answer.
State the important features of Human Resource Management.
Nishant, the director of a garment company, is planning to manufacture bags for the utilisation of waste material from one of his garment units. He has decided that this manufacturing unit will be set-up in a rural area of Orissa where people have very few job opportunities and labour is available at very low rates. He also thought of giving equal opportunities to men and women.
For this, he wanted four different heads for sales, account, purchase and production. He gave an advertisement and shortlists ten candidates per post after conducting different selection tests.
  • Identify and state the next three steps for choosing the best candidate out of the candidates short-listed.
  • Also identify two values which Nishant wants to communicate to the society by setting up this manufacturing unit.
Give three levels of packaging.
Briefly, explain any three barriers to effective communication.