Business Studies 1 Marks Question

Rahul, a worker, is given a target of assembling two computers per day. Due to his habit of doing things differently, an idea struck him which would not only reduce the assembling time of computers but would also reduce the cost of production of the computers. Rahul’s supervisor instead of appreciating him, ordered him to complete the work as per the methods and techniques decided earlier as nothing could be changed at that stage.
The above para describes one of the limitation of planning function of management. Name and explain that limitation.

Super Fine Rice Ltd. has the largest share of 55% in the market. The company’s policy is to sell only for cash. In 2015, for the first time company’s number one position in the industry has been threatened because other companies started selling rice on credit* also. But the managers of Super Fine Rice Ltd. continued to rely on it’s previously tried and tested successful plans which didn”t work because the environment is not static. This led to decline in sales of Super Fine Rice Ltd. The above situation is indicating two limitations of planning which led to decline in it sales. Identify these limitations.

Laxmi Chemicals Ltd., a soap manufacturing company, wanted to increase its market share from 30% to 55% in the long-run. A recent report submitted by the Research & Development Department of the company had predicted a growing trend of herbal and organic products. On the basis of this report, the company decided to diversify into new variety of soaps with natural ingredients having benefits and fragrances of Jasmine, Rose, Lavender, Mogra, Lemon Grass, Green Apple, Strawberry etc. The Unique Selling Proposition (USP) was to promote eco-friendly living in the contemporary life style. The company decided to allocate t 30 crores to achieve the objective.
Identify the type of one of the functions of management mentioned above which will help the company to acquire dominant position in the market.

Give the meaning of ‘Programme’ as a type of plan.

Give the meaning of ‘Policy’ as a type of plan.

Give the meaning of ‘Method’ as a type of plan.

To see whether plans are being implemented and activities are being performed according to schedule’, is a step of planning process. Identify the step.

‘Planning always leads to success.’ Do you agree? Give reason in support of your answer.

Name the type of plan which provides the broad contours of an organisation’s business.

What is meant by ‘selecting an alternative’ as a step in the planning process?

What is meant by ‘Policy’ as a type of Plan?

Define 'planning premises'.

Define ‘ Planning’.

‘Planning is done for achieving organisational goals’. Do you agree? Give one reason in support of your answer.

Name the type of plan which is time bound and linked with measurable outcome.

Give one difference between policy and procedure.

State first two steps in the process of planning.

Saurabh decided to start a chocolates manufacturing business. He set the target of earning 10% profit on sales in the first year. As a good businessman, he was concerned about the future of the business, which was uncertain. He gathered information that the demand for chocolates is increasing day-by-day. He used this information as the base for future planning and shared it with his team. On the basis of the gathered information, he scheduled a meeting in the following week to find innovative ways to achieve the objectives.
List the first two steps, which have been followed by Saurabh that are related to the process of one of the functions of management.

Rahul, a worker, is given a target of assembling two computers per day. Due to his habit of doing things differently, an idea struck him which would not only reduce the assembling time of computers but would also reduce the cost of production of the computers. Instead of appreciating him, Rahul’s supervisor ordered him to complete the work as per the methods and techniques decided earlier as nothing could be changed at that stage. The above paragraph describes one of the limitations of the planning function of management. Name and explain that limitation.

Varsha Jain after completing her fashion designing course from Indian Institute of Fashion Technology planned to enter into designer clothing venture. She had to address issues like her target customers, channel of distribution to be used, pricing policy etc. Identify the type of plan that Varsha Jain needs to develop to provide direction and scope to her organization in the long run.

The arrangement to demonetise the ? 500 and ?1000 bank notes began six to ten months prior to the public announcement and was kept highly confidential. The cabinet was informed about the demonetisation on 8th November 2016 in a meeting called by the Prime Minister of India, Narendra Modi. This was followed by Modi’s public announcement about the demonetisation in a televised address where he announced that currency notes with the denomination of ? 500 and ? 1000 would cease to be the legal tender from 9th of November 2016. The most interesting thing regarding the demonetisation is that people were devising various unique ways for transforming their black money in to white one by depositing money in the accounts of their poor relatives and friends, converting black money in to gold, paying a few months salaries in advance and so on.
In context of the above case :
Identify and explain the types of plans being discussed in the above lines with regard to demonetisation.

The term demonetisation has become a household name since the government pulled the old Rs. 500 and Rs. 1,000 notes out of circulation in November 2016. Prior to the year 2016, the Indian government had demonetised bank notes on two prior occasions—once in the year 1946 and then again in the year 1978. In both cases, the purpose was to combat tax evasion by ‘black money’. Identify the types of one of the functions of management being discussed in the above lines.

Which feature of planning is stressed by saying that planning is an intellectual activity of thinking rather than doing?

As a part of its comprehensive plan ‘Neerja Ltd.' decided to combine a new line of activity with its existing footwear business.
Identify the type of plan.

Which demerit of planning is highlighted in this statement ‘Middle management and other decision makers are neither allowed to deviate from plans nor are they permitted to act on their own.

A plan is framed, it is implemented and is followed by another plan and so on. Mention the feature of planning indicated here.

Following a pre-decided plan, when circumstances have changed, may not turn out to be in the organisations interest. Which limitation of planning is indicated here?

Following a pre-decided plan, when circumstances have changed, may not turn out to be in the organisations' interest. Which limitation of planning is indicated here?

A Company needs a detailed plan for its new project ‘Construction of a Shopping Mall’. What type of plan is it?

Lot of time and money is involved in the formulation of plans. What does this statement state about planning?

What step is taken to reduce the list of alternative courses during planning process?

This function of management means deciding in advance what to do and how to do. Name it.

How can the happening of ‘Overlapping and wasteful activities’ be reduced?

It is not always true that just because a plan has worked before, it will work again. Which demerit of planning is highlighted here?

What is meant by 'follow-up action' as the step involved in the planning process?

It helps the manager to look into future and make a choice amongst various alternative courses of action. Enumerate the importance of planning indicated here.

Name the type of plan in which the move of competitors is considered.

Name the type of plan which specifies the steps to carryout different activities in a chronological order.

‘Planning strangulates the initiative of the employees and compels them to work in an inflexible manner.’ What does it mean?

Define ‘objectives' as types of plans.

Which step in the planning process takes assumptions about the future as the base material upon which plans are to be drawn?

Define 'planning premises'.
OR
What are Planning Premises?

A company needs a detailed plan for its new project Construction of a Shopping Mall. What type of plan is it?

Which feature of planning is stressed by saying that planning is an intellectual activity of thinking rather than doing?

Planning cannot foresee or assess future trends in the environment and thus there may be obstacles to effective planning. Mention the limitation of planning referred here.

Lot of time and money is involved in the formulation of plans. What does this statement state about planning?

Name the type of plan which provides the prescribed ways in which a task has to be performed considering the objective.

Is planning a secondary function of management. What is your stand?

To see whether plans are being implemented and activities are being performed according to schedule’, is a step of planning process. Identify the step.

State any one importance of planning function of management.