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Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning5 Marks
Question
What is described by organisational plan?
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Answer

The organisational plan describes the following:
  1. The terms and conditions associated with the selected form.
  2. Lines of authority and responsibility of members of the new venture.
  3. The names, designation, addresses and resumes of the members.
  4. Stake of members in the organization.
  5. Roles and responsibilities of each member.
  6. Procedure for solving conflicts/ disputes amongst members.
  7. Forms of payment for the members of the organization.
  8. Voting rights, managerial and controlling rights of the members.

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