CBSE Questions for Class 12 Commerce Business Studies Planning Quiz 13 - MCQExams.com

Identify incorrect statement.
  • Companies at all stages of development need to prepare business plan.
  • Business plan should emphasize people not ideas or concepts
  • Business plan must be concise and well written
  • None of the above
______ defines how to operate in practice to implementation and monitoring plans what are capacity needs, how resources are to be used, how risks are to be dealt with and how sustainability of the project's achievement is ensured.
  • Private planning
  • Operational planning
  • Environmental planning
  • All of above
The _____ plan should contain control points to ascertain progress.
  • business
  • marketing
  • financial
  • operational
Which of the following strategy focuses on issues of production processes, material, etc?  
  • Operation Strategy
  • Business Unit Strategy
  • Corporate Strategy
  • Marketing Strategy
Which of the following helps in periodic review of actual results?
  • Marketing plan
  • Business plan
  • HR plan
  • All of the above
Which term is derived from a Greek word which means 'the art of the general'?
  • Strategy,
  • Business function,
  • Financial Management
  • Transformation process
Which budget specifies the estimated quantity and cost of material during different volumes of production?
  • Working Capital Budget
  • Material Budget
  • Production Budget
  • Cash Budget
A ________ is a document that summarizes the operational and financial objectives of a business and contains the detailed plans and budgets showing how the objectives are to be realized.
  • mission statement
  • business plan
  • budgetary plan
  • transformational process
Which of the following executes strategy into everyday executions tactics?
  • Goal setting
  • Technical planning
  • Operational planning
  • None of the above
The term strategy is derived from the Greek word 'Strategos' meaning ________.
  • making plans
  • the art of the general
  • line of attack
  • policy
Formal and systematic business planning must include elements like ________.
  • strategic planning
  • operational planning
  • both (a) & (b)
  • none of the above
Which of the following is an advantage of budgeting?
  • Budgeting focuses on specific and time bound targets and thus helps in attainment of organizational objectives.
  • Budget helps in optimum utilization of resources by allocating them according to the requirements of different departments.
  • Budgeting is a source of motivation to the employees who know the standards against which their performance will be appraised and thus, enables them to perform better.
  • All the above
The term budgetary period relates to:
  • A specific year for which the budget has been prepared
  • The period for which the budget is prepared
  • The period in which the budget is finalized
  • The subdivisions of the main budget
What problems did we identify are commonly hindering successful planning?
  • Lack of planning expertise, little top management support, Misuse of planning specialists
  • Poor cooperation between managers and planners and too many planners.
  • No structured planning and taking impossible measures to get outcomes
  • Too many assumptions, negative organizational culture; poor interpersonal relationships
An approach of setting objectives from top managers downward in the organization is 
  • True planning
  • Commitment concept
  • Checking the outcomes of the manager
  • Traditional goal setting
A key characteristic of strategic decisions is ______________________-.
  • they are likely to be concerned with, or affect, the long-term direction of an organisation.
  • they are normally definite decision about the future of the organization.
  • they identify, specific areas of strategic interest for the management of an organization.
  • they result in better organizational performance.
______ plans are organization wide, establish overall objectives, and position an organization in terms of its environment.
  • Specific
  • Directional
  • Strategic
  • Operational
In additional goal setting, the goals are set at the top level of management and after that they:
  • Become the responsibility of first-time management
  • Are broken down into sub goals for each level of the organization
  • All the efforts to achieve the goals are directed by top management
  • Are delegated to the next lower level to be achieved.
The definition of planning which suits the most is
  • Setting an organization's objectives and the means of reaching them
  • Giving employees skills and knowledge
  • An integrated process in which plans are formulated, carried out and controlled
  • To find the core activity of planners and planning departments
Administration is concerned with
  • Planning
  • Controlling
  • Organizing
  • Both a&c
Planning involves
  • Objectives
  • Determination
  • Both a&b
  • None of the above
The first step is planning is
  • To new the enterprise in the entirety
  • To improve effectiveness of all other function of management
  • To force events to confirm to plan
  • None of the above
Some of the limitation of planning is
  • It has to adjust itself with the changing environment
  • Accurate projection about the future is difficult in planning
  • Advance planning can not function the case of acute emergency
  • An of the above
By pervasive nature of planning we mean
  • It is required at all levels in an organisation
  • Planning is a top management tool
  • Planning is continuously changing
  • It is a basic management function
Invariably planning is important as
  • It is one of the objective of an manager
  • It keeps the check on the performance against the predetermined course of action.
  • It is the only source of information for employees
  • Both a &b
Planning is an intellectual process because
  • Intellectuals can do it
  • A proper action is to be taken from the alternative
  • It is not a guess work
  • All of the above
Which of the following is a part of the definition of organizational planning?
  • Evaluating the organization's outcomes
  • Higher profits
  • Contingency factors
  • Defining goals
Strategic Planning
  • Addresses the organization's basic mission or business issuing broad statements of purpose or direction that have a long lead time.
  • Involves managers in each unit of an organization who are responsible for achieving the unit's objectives within a specified period of time.
  • Looks specifically at resources, finances, and market condition to determine ways to accomplish the overall plans of the organization
  • Determines the day-to-day operations within an organization
Planning is
  • Forecasting the future of an enterprise
  • Deciding the course of action
  • Both a&b
  • Making provision for the plan
One of the basic function of management is
  • Control
  • Organising
  • Planning
  • Motivation
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