Business Studies Class 12 Worksheet Chapter - 4 Planning

PLANNING

Worksheet

1. Which function of management bridges the gap between where we are and where we want to reach?

2. Differentiate between single use plan and standing plan.

3. Name any two plans which are neither single use plans nor standing plans. 

4. Name any two single use plans. 

5. Name any three standing plans.

6. Write the steps involved in the process of planning.

7. Identify the feature of planning mentioned in each of the lines:

1. Planning is required at all levels. 

2. Planning involves selection of the best alternative out of various alternatives. 

3. Through forecasting, future events and conditions are anticipated and plans are drawn accordingly.

4. All other managerial functions are performed within the framework of the plans drawn.

5. Planning requires application of mind involving foresight, imagination and sound judgement.

6. Planning has no meaning unless it contributes to achievement of predetermined organizational goals. 

7. A plan is framed, it is implemented, and is followed by another plan, and so on. 

8. Identify the point of importance of planning mentioned in each of the following lines:

1. If there were no goals and standards, then finding deviations which are a part of controlling would not be possible.

2. Planning is an activity which enables a manager to look ahead and anticipate changes.

3. Since planning ensures clarity in thought and action, work is carried on smoothly without interruptions. 

4. Planning helps in choice of best alternative out of various alternatives.

5. New ideas can take the shape of concrete plans.

6. If goals are well defined, employees are aware of what the organisation has to do and what they must do to achieve those goals.

9. Identify the point of limitation of planning mentioned in each of the following lines:

1. There are a number of incidental costs as well, like expenses on boardroom meetings, discussions with professional experts and preliminary investigations to find out the viability of the plan.

2. It becomes difficult to accurately assess future trends in the environment if economic policies are modified or political conditions in the country are not stable or there is a natural calamity.

3. Managers need to be given some flexibility to be able to cope with the changed circumstances.

4. Most of the time, employees do not even attempt to formulate plans.

5. Planning only provides a base for analysing future. It is not a solution to all problems.  

10. Identify the type of plan involved in each of the following statements:

1. It is a plan which quantifies future facts and figures.

2. These are routine steps on how to carry out activities.

3. It is the desired future position that the management would like to reach.

4. It will refer to future decisions defining the organisations direction and scope in the long run.

5. They do not allow for any flexibility or discretion.

6. These are detailed statements about a project which outlines the objectives, policies, procedures, rules, tasks, human and physical resources required and the budget to implement any course of action.

7. There are general statements that guide thinking or channelise energies towards a particular direction.

8. These provide the prescribed ways in which a task has to be performed considering the objective.