NCERT Solutions for Class 12 Business Studies Chapter 4:Planning; Available for free download
NCERT Solutions for Class 12 Business Studies Chapter 4: Find complete NCERT Solutions for Class 12 Business Studies Chapter 4, Planning. This article also provides free PDF Download link for complete NCERT Solutions of the chapter mentioned above. All the solutions have been prepared by our subject experts as per Revised CBSE Syllabus 2023-2024.
NCERT Exercises are prepared from important topics present in the chapter. Practise of these NCERT Solutions can clear your concepts of important topics and help you practically implement the knowledge gained through the chapter. Most importantly it plays a crucial role in scoring good marks in academics.
Students aspiring to score good marks in CBSE Board Examinations 2023-2024 must practise NCERT Solutions from the topics mentioned below:
- Importance of Planning
- Features of Planning
- Limitations of Planning
- Planning process
- Types of Plan
NCERT Solutions for Class 12 Business Studies Chapter 4, Planning are present below:
Very Short Answer Type
1.How does planning provide direction?
Answer. Planning is the pre-decided order or work for fulfilling objectives smoothly. Since, planning governs our course of action and tells us what to do next in order to achieve your goal, it can be said that planning provides direction.
2.A company wants to increase its market share from the present 10% to 25% to have a dominant position in the market by the end of the next financial year. Ms Rajni, the sales manager has been asked to prepare a proposal that will outline the options available for achieving this objective. Her report included the following options - entering new markets, expanding the product range offered to customers, using sales promotion techniques such as giving rebates, discounts or increasing the budget for advertising activities. Which step of the planning process has been performed by Ms Rajni?
Answer. Ms Rajni has performed third step of the planning process i.e identifying alternative courses of action because in this case, Ms Rajni is jotting down every possible alternative to fulfill the objectives of the organization which will then be decided on account of feasibility, profitability and accessibility.
3.Why are rules considered to be plans?
Answer. Rules are inflexible statements that have to be adhered to and direct the course of our action. Since, planning too directs our action, rules can be considered to be simplest type of plan, with only difference being that plans are flexible and rules aren’t.
4.Rama Stationery Mart has made a decision to make all the payments by e-transfers only. Identify the type of plan adopted by Rama Stationery Mart
Answer. Rama Stationery Mart has adopted ‘Policy’. Policy is a general statement that guides or channelizes energies in a particular direction. In this case, the organization has adopted a direction of payment, i.e. Through e-transfers. Hence, policy has been used in the above case.
5.Can planning work in a changing environment? Give a reason to justify your answer.
Answer. No, I don’t think planning can work in a changing environment because a plan is made on premises of a particular situation, influenced by a particular business environment, if that changes than the same plan might not work. Different plans has to be created in different situations.
Short Answer Type
1.What are the main aspects in the definition of planning?
Answer. Planning can be defined as course of actions directed towards achieving a certain goal or fulfilling certain objectives over a period of time. It is governed by actions that have been chosen among many alternatives. So, main aspects of planning are:
- Setting Objectives
- Time period
- Alternatives for action
- Selection of the best alternative
2.If planning involves working out details for the future, why does it not ensure success?
Answer. Yes, planning involves working out details for the future but future is uncertain. It is impossible to determine what future holds. Thus, accurate prediction of future is impossible. Plans are mere execution of predictions aimed at fulfilling goals and objectives. Though it does not ensure success but it can stop you from wandering around and ensure you move ahead in the right direction.
3.What kind of strategic decisions are taken by business organisations?
Answer. Strategy is a comprehensive plan for accomplishing an organization’s objectives. This comprehensive plan will include three dimensions:
(i) determining long term objectives
(ii) adopting a particular course of action
(iii) allocating resources necessary to achieve the objective.
Company’s take major strategic decisions like:
(i) Determining whether the business should function in the same line of business or not
(ii) Determining new lines of activity with the existing business.
(iii) How to seek the dominant position in the market.
(iv) Determining your target audience, customers, consumers etc
(v) Observing demand for product
(vi) Finding out best channel of distribution
(vii) Checking out the pricing policy
(viii) Product advertising
4.Planning reduces creativity. Critically comment.(Hint: both the points - Planning promotes innovative ideas and planning reduces creativity – will be given).
Answer. Planning is a laid-out direction of what is to be done and how it is to be done. It is determined after looking at all aspects of fulfilling a goal that any change in them can lead to failure of the plan and most importantly unfulfillment of objectives. Thus, it does reduce the scope of creativity since a plan has to be made considering what can constitute to achieve a goal. But, planning does not limit your scope for innovation. Infact, innovative plans often lead to successful plans and pose an organization as a market leader. For example: if an organization brings up an innovative idea of promoting chocolate by showing that chocolates act as a comfort between couples and can be shared in different emotions like joy, sadness etc. It is an innovative plan which can benefit the company but it can limit your creativity in terms of language to be used, and creatives in the ad to be used, as a whole. So, yes planning reduces creativity because they are laid out on account of formal execution determined to achieve certain goals but it can never disrupt your innovative thinking.
For complete NCERT Solutions for Class 12 Business Studies Chapter-4, click on the link below.
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