Download App

Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning5 Marks
Question
How is production plan helpful?
OR
A production plan helps to plan the work in such a manner that one can clearly form an idea about which aspects?
✓

Answer

A production plan helps to plan the work in such a manner that one can clearly form an idea about:
  1. Production schedule and/ or Budget.
  2. Machinery, equipment requirement.
  3. Manufacturing method and process involved.
  4. Plant layout.
  5. Time, motion and work study.
  6. Manpower requirement.
  7. Inventory requirement.

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

Explore more

More "5 Marks Question" from Entrepreneurial Planning→Entrepreneurial Planning — all question types→Entrepreneurship STD 12 Commerce question papers→CBSE Board STD 12 Commerce question papers→CBSE Board question paper generator→

Similar questions

Explain the various environmental factors crucial for an entrepreneur.
→
The School Gear Ltd. manufactures three products — Tiffin covers; Bottle covers; Pencil pouch. The variable expenses and sales prices of all these products are given below:
 
Tiffin Covers
Bottle Covers
Pencil Pouch
Sales price per unit
₹ 200
₹ 100
₹ 75
Variable cost per unit
₹ 100
₹ 60
₹ 25
The total fixed expenses of the company are 55,000 per month. For the coming month, it expects the sale of three products in the following proportions:
Tiffin covers: 20%
Bottle covers: 50%
Pencil pouch: 30%
Compute the break-even point of company in units and rupees for the coming month.
→
You have decided a visit to Shimla in a car. As a vigilant traveler what important decisions would you take?
→
Elaborate the advantages of a franchise form of business to a franchisee.
→
Abhimanyu Industries Ltd. had a team of professionals and experts to draft a comprehensive yearly document with all the relevant details of internal and external elements in managing the venture. This document acts as a decision-making tool for the management.
The Chief Executive Officer of the company always pays special focus on one element of this document that ensures the orderly flow of materials from raw state to finished product with a proper system of quality control, as according to him ‘work your plan’ is more important than ‘plan your work’.
  1. Identify the ‘comprehensive yearly document’ being prepared by Abhimanyu Industries.
  2. How is this plan a ‘decision-making tool’ for the management?
  3. Identify the element that is the priority of the CEO of the company.
  4. Why is the element as identified in (c) important?
→
A beauty parlour had varying number of customers during 5 weeks. This information and the total weekly billing are in the following table. What are the 'unit of sale' and the unit price in this case? the cost of goods sold or variable cost is 60% of the sale price, calculate the 'unit cost' and the gross margin' per unit of sales.
Weeks
Number of customers
Total amount billed (₹)
Average amount billed (₹) per customer
Week 1
10
1,000
100
Week 2
17
1,445
85
Week 3
13
923
71
Week 4
22
5,082
231
Week 5
18
3,150
175
Total
80
11,600
 
→
Answer each of these questions in about two hundred and fifty words:
When an entrepreneur decides to go public and become a public company, he/ she tends to be in advantageous positions and get many benefit out of it . Explain the benefits.
→
What do you mean by Break Even Point? Explain its importance.
→
Explain any four factors that influence growth of an Enterprise.
→
When is it mandatory to mention PAN number?
→