your score will be boosted by the concepts clarified in these revision notes. Features of Planning. Planning means looking ahead and chalking out future courses of action to be […] This knowledge will then be used later to study subjects in advanced professional courses. Your email address will not be published. 6. These may be prepared for a day, week, a month, a quarter or a year. Name the function of management which involves setting objectives and developing appropriate courses of action to achieve these objectives. Hello studentsTry this quiz to revise the concepts of Chapter -4 (Planning) of class 12 Business Studies.You will be able to check your answer after submitting.You will get your score after completing entire quiz.You can try this quiz any number of times Characteristics of Planning. Check out the quality of the revision notes Class 12 Business Studies Chapter 4 and revise properly before an exam. What is Planning Planning means setting objective and targets and formulating an action plan to achieve them. So, planning becomes a primary function of management. (iii) The Lower Town was walled and buildings were built on platforms. Plan must make sure that every activity undertaken contributes to the achievement of objectives. Answer: Planning precedes all other functions of management like Organising, staffing, directing and controlling. Planning is a process that has to necessarily adapt to changing times. Also Check: What is the Planning Process? Plans classified on this basis are discussed below: 1. Planning is a Primary Function of Management Studying this subject is very essential for those students who are willing to pursue a career in commerce, business management, chartered accountancy, business administration, etc. Explain. ADVERTISEMENTS: Some of the most important features of economic planning are as follows: Economic Planning has been adopted in different parts of the world for various reasons. It is a futuristic step that helps a business to identify risks beforehand, to figure out the necessary steps, and to forecast growth. Without planning other functions of management is not possible. On the basis of forecasting, future conditions and events are anticipated and plans are prepared. To keep control over all activities which suggests that planning & control … Planning is the basic function of management and it is also referred to as the “Primacy of Planning”. From Java 12, CDS is by default ON. It is extremely vital to learn this chapter and prepare a foundation of knowledge. Rise in Prices: ADVERTISEMENTS: Price stability has been one of the objectives of every five year plan in India. ALL INDIA SENIOR SECONDARY CERTIFICATE EXAMINATION – 2014-15 SUBMITTED TO: AMIT RAJPUT (P.A Commerce) DPS Moradabad SUBMITTED BY:YASH AGARWAL XII-Commerce D.P.S. Planning is regarded as a forward-looking function based on forecasting. This document is highly rated by … The planning function of management has some special features. Objectives should clearly define as to what is to be achieved by policies, procedures, rules, strategies, budgets and programmes. Relationship between Planning and Control 9. Use class B - Business (This use class has been replaced with Use Class E as of 1st September 2020). Under such circumstances, employees become orders following machines and don’t involve creative thinking from their side. To know more, stay tuned to BYJU’S. Planning Process. It concerned with both ends and means, i.e., what is to be done and how it is to be done. Q.4 When Planning is Not Required? What is Planning? Due to such a lengthy process, sometimes decisions get delayed, opportunities are lost and there is not much time left for the implementation of plans. Planning is firmly correlated with discovery and creativity. Planning means looking ahead and meeting future events effectively. The plans are rigid in nature and have to be complied with throughout the organisation. This is the primary step in the process of planning which specifies the objective … Thus, planning is purposeful. Planning is the essence of all management activities. Internal rigidity relates to plans, policies, programs, rules, and methods, etc. Planning is a thinking process and it is separate from organisational activities. Planning involves setting goals and determining the most economical and viable course of action to achieve the predetermined goals. We have provided Nature and Significance of Management Class 12 Business Studies MCQs Questions with Answers to help students understand the concept very well. ADVERTISEMENTS: Everything you need to know about the characteristics and features of planning. (d) Staffing. Answer: Planning is not required when there is no alternative to achieve the objectives. • Planning is the process of determining how the organization can get where it wants to go (Certo, 2000, p. 126). ESSENTIAL POINTS TO SOLVE CASE STUDIES Meaning of Planning Planning is the process of setting objectives, formulating various courses of action in order to achieve them, and selecting the best possible alternative from the various courses of action available in order to ensure completion of organisational goals. External rigidity relates to political, industrial, technological, legal and economic changes, etc. It governs survival, growth and prosperity of any enterprise in a competitive and ever-changing environment. Book.Apr 1, 2014. poonam gandhi business studies class 12th Project Report And Market Survey of McDonalds- Cbse class 12 Entrepreneurship Project.explain business environment, different forms and functions of organizations, basic. These features throw light on its nature and scope. Classification on the Basis of Levels in the Organisation: Similar to objectives, plans are made for different organisational levels. Strategic Plans: Strategic plans are made to achieve the overall organisational […] Planning provides a proper guidance to an organization how to bring economy in all around operations. Multiple Choice Questions So, we will discuss all these topics in detail which will help you to enhance your knowledge. your score will be boosted by the concepts clarified in these revision notes. Planning is mostly done by the top management and other members. Features of Planning – 7 Features of Planning (With Examples) Feature # 1. Managers have a tendency to rely on previously tried and tested successful plans. 8m 06s. 3. It is extremely vital to learn this chapter and prepare a foundation of knowledge. 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The most unique feature of Mohenjodaro was the planned urban centre: (i) The settlement is divided into two sections, one smaller but higher and the other much larger. • Planning is the process by which an individual or organization decides in advance on some future course of action (Omran, 2002, p. 68). Q.6 in Spite of Many Advantages, State How Planning Can Be Detrimental? Each class is different and teachers need to be able to adapt material from whatever source so that it is suitable for their students. Download CBSE Class 12 Business Studies HOTs Planning Set B in pdf, Business Studies High Order Thinking Skills questions and answers, CBSE Class 12 Business Studies HOTs Planning Set BChapter-3 Planning To register Online Tuitions on Vedantu.com to clear your doubts. Discuss Steps of Planning. Planning Class 12 Business Studies MCQs Pdf. Required fields are marked *. If the teacher and the students have knowledge of what to expect from the lesson, the class period goes very smoothly. Planning cannot be imagined in the absence of alternatives. Importance 10. Resource planning comprises three stages: (i) Preparation of inventory of resources. The 4. chapter in this subject is Planning. Beside these two major features, there were many other features that played an important role in moulding out the final form of this outstanding language. There are many influences we need to consider when planning and these will also be examined. Barriers. A student may plan for his monthly test, a husband may plan to give surprise gift to his wife on the occasion of the anniversary, the CEO of a company may plan to launch a new product in the market, a sales manager may plan to achieve his sales target, a worker may plan for his production schedule, etc. (ii) Evaluation in terms of availability for development. The 4th chapter in this subject is Planning. Business Studies is a significant subject in the Class 12 Commerce syllabus. It is based on logical reasoning, facts, foresight, vision, intelligent imagination, and sound judgment. Steps 5. Let us understand the concept of planning. Forecasting • Forecasting is the essence of planning. The dynamic environment may sometimes lead to failure of plans. Each and every person has to frame a plan to recede in his activities. CBSE quick revision note for class-12 Business Studies, Chemistry, Math’s, Biology and other subject are very helpful to … Objectives of planning: a. Decision making means choosing the best alternative among the alternatives available. Answer: Lower level management plans for day-to-day operations of the organisation. So that, organization can easily utilizes all available resources in the best & cheapest way. This knowledge will then be used later to study subjects in advanced professional courses. 2. Plans are prepared with a view to achieve certain goals. 4. Introduction and Meaning. After setting up of the objectives, planning decides the methods, procedures and steps to … (b) extends throughout the organisation. Features of Planning : 1. As the resources are limited and unevenly distributed over the country their planning is essential. By using these notes as reference material, you can easily prepare the chapter completely and progress to an advanced level. Since planning is involved at all managerial functions, it […] Language Changes And Features. Features of a Good Plan 8. MBD. Business Studies Class 12 book. ADVERTISEMENTS: Read this article to learn about the Failures of Economic Planning in India! 1. Planning CBSE Class 12th 1. They … Democratic Character: Another pioneer feature is its democratic nature. Pervasiveness of planning indicates that planning (a) is a top management function. Meaning and Concept of Planning 3. done well, other activities automatically follow. Let us look at a few with implementations. It sets up the stage for all further functions of management like organizing, directing etc. Planning is required in all types of organisations and at all levels of management. The NCERT Solutions to the questions after every unit of NCERT textbooks aimed at helping students solving difficult questions. An objective should be there to provide a base for every plan. Planned targets provide a basis upon which good performances can be rewarded and poor performances can be improved. Studying this subject is very essential for those students who are willing to pursue a career in commerce, business management, chartered accountancy, business administration, etc. In the toolkit you will find Types 7. Answer. Class # 1. like middle and lower levels of management have to follow these plans. Part A : Principles and Functions of Management 1. However, the manager would first have to set goals. By using these notes as reference material, you can easily prepare the chapter completely and progress to an advanced level. Managers are a very import… Planning is a very lengthy process as it consumes a lot of time for collection, analysis, and interpretation of data. 12. 12 . As the resources are limited and unevenly distributed over the country their planning is essential. Plans must be implemented in the light of changing environment otherwise it may lead to failure of the business. Class 12 Business Studies Business Environment – Get here the Notes for Class 12 Business Studies Business Environment. These specific activities become objectives to achieve goals and objectives are quantifiable. 2. • Planning involves selecting from among alternative future (i) Objectives Objectives are the ends towards which the activities are directed. Planning is the outcome of a mental process rather than wishful thinking and guesswork. Or, you may have considered your own objective and worked to … This is possible only when you have the best CBSE Class 12 Business Studies study material and a smart preparation plan. Free PDF Download of CBSE Business Studies Multiple Choice Questions for Class 12 with Answers Chapter 4 Planning. In this course we are going to study Chapter - 4 - Planning of 12th Business Studies. Establishing the objectives is the first step in planning. Planning contributes to Objectives: Planning starts with the determination of objectives. Planning Important Questions for CBSE Class 12 Business Studies Meaning Definition, Features and Importance of Planning. You may have considered who your audience was and gathered information to meet their needs and interests. Differentiate between Single-use plans and standing plans. Features of Java. It is powerful medium for sales promotion. NCERT Solutions Class 12 Geography 3 Chapter 9 Planning And Sustainable Development In India Context. Thus, planning is purposeful. (ii) On the Citadel buildings were constructed on mud brick platforms. Such rigidity of plans may be internal as well as external. Utilizing the Class 12 Business Studies Planning revision notes will become mandatory to grab hold of the advanced concepts. Every feature of Planning will be discussed in the Business Studies Class 12 Chapter 4 revision notes. It is also a continuous process that certainly impacts future events. Features of Planning : Planning Focuses on Achieving Objectives Every organisation has a set of goals to be achieved. 5m 37s. Principles 6. It involves logical thinking and rational decision making. Those features are : … Java 12 has introduced many language features. The limitations of Planning are furnished below: (2) Planning May Not Work in Dynamic Environment, (5) Planning is a Time-consuming  Process. The objective of planning is to predict about the future course of events 7. Planning class 12 Notes Business Studies. Planning is nothing but thinking before the action takes place.It helps us to take a peep into the future and decide in advance the way to deal with the situations, which we are going to encounter in future. (ii) Evaluation in terms of availability for development. If you've ever given a formal presentation on a topic, you've probably done some kind of planning. It is thus the first function of management at all levels. Answer: Planning can be detrimental if it is not dealt with flexibility or is dealt with rigidity. Planning Process comprises of: Setting Objectives, Developing Premises, Identifying alternative courses of action, Selecting an alternative, Implementing the plan … (c) is a future-oriented activity. Planning precedes other function because it lays down the base for all other functions of management. (a) Directing (b) Organising (c) Planning (d) Staffing. Plans are formulated by taking to factors of change and may require the The planning function of the management has certain special features. Discuss the limitations of planning. The prime reason behind creation of Java was to bring portability and security feature into a computer language. Students can solve NCERT Class 12 Business Studies Planning MCQs Pdf with Answers to know their preparation level. ADVERTISEMENTS: The following are the essential characteristics of planning which describe the nature of planning: 1. Once the objectives are set, the managers and workerscan have a clear vision of what to work towards. NCERT Solutions for Class 12 Commerce Economics Chapter 2 Unit I Indian Economy 1950 1990 are provided here with simple step-by-step explanations. All other management functions like organising, staffing, directing and controlling are performed within the framework of the plans drawn. Planning is primary function of management: The functions of management are broadly classified as planning, organisation, direction and control. Characteristics of Planning Managerial function: Planning is a first and foremost managerial function provides the base for other functions of the management, i.e. Meaning of Planning Formulation of plans can be too much costly because there is a lot of time and money is involved. They can’t deviate or change the plans made by their seniors. What are the main features to be considered by the management while planning? At all levels of management and it is separate from organisational activities process it... Classification on the basis of feedback on previous plans, new plans are drawn! Considered who your audience was and gathered information to meet their needs and interests NCERT Questions! Answer: planning creates rigidity by putting an adverse effect on the enterprise at the end a... 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Well as external in his activities adverse effect on the basis of levels in the process of planning 1. Of plans may be prepared for a specific period, new requirements, and future conditions more convenient later. What are the main features to be done in advance environment may sometimes lead to failure plans! Thus the first step in the process of planning indicates that planning ( d ) staffing management in process!