CBSE Questions for Class 12 Commerce Business Studies Planning Quiz 5 - MCQExams.com

If you are going to put Rs 1,00,000 in a fixed deposit for a year at 10% rate of interest, then you know how much interest your money will earn. What kind of a decision making condition is this?
  • Certain
  • Uncertain
  • Risk
  • Normal
Which of the following best expresses the difference between programmed and non-programmed decisions?
  • Made by managers who prefer a thinking or technocratic style; made by managers who use judgment and follow intuition
  • Have computer routines developed for them; are not computerized
  • Handled with decision rules; decision rules cannot be developed
  • Occur under certainty or risk; occur under uncertainty or ambiguity
Which of the following is not related with 'business plans'?
  • Largely enforced business goals
  • The reasons why they are believed attainable
  • The plan for reaching those goals
  • Changes in perception and branding
Identify correct steps in decision making.
I - Identifying the real problem
II - Discovery of alternatives
III - Analysis of available alternatives
IV - Selection of alternatives
V - Communication of decision
Select the correct answer from the options given below.
  • II, IV, I, III, V
  • III, I, II, IV, V
  • I, III, II, IV, V
  • I, II, III, IV, V
In decision making under different conditions, what is the difference between risk and uncertainty?
  • Under risk, information is reliable, under uncertainty, it is not.
  • Under risk, choices are clear and the chances of different outcomes can be measured; under uncertainty, neither applies.
  • Under risk, there is a well defined problem; under uncertainty, the definition is unclear.
  • Under risk, probabilities can be measured; under uncertainty, probabilities cannot be measured.
All of the following are the benefits of decisions made by groups in planning except
  • Differences in opinion and companies lead to indecision
  • Improve quality of decision
  • Helps in the participation of individual responsibility different interests
  • Co-ordination of departments becomes easier.
Whenever possible alternatives regarding planning for an organization are decided
  • Past experience of organization is taken care of
  • Alternatives are not dependent on past experience of organization
  • Both a&b
  • None of the above
Which of the following is true about business strategies ?
  • Well defined missions make strategy development much easier
  • An organisation should stick with its strategy for life of the business
  • All firms with an industry will adopt the some strategy
  • Organisational strategies depend on operations strategies.
What type of strategic capabilities is the source of sustainable competitive advantage for a based view of strategy ?
  • Strategy based on unique resources and casual ambiguity
  • Dynamic capabilities with complex features
  • Operational excellence
  • Strategic capabilities, which arc valuable to buyers, rare, robust and non-substitutable
In planning, policies play a crucial role as
  • It helps manager in determining the level of authority that can be delegated
  • Policies helps in budgeting
  • Both a&b
  • None of the above
Planning is called a mental function because
  • It means looking ahead
  • It is preparing for future
  • It is mathematical calculation
  • Both a & b
Planning premises means
  • Predictions about future
  • Assumptions about future
  • Neither a nor b
  • Both a & b
Strategic planning is?
  • To develop relation between the organization and its environment.
  • Creating new opportunities by stretching and exploiting capabilities in new ways
  • The skills of the senior management
  • Utilizing all the resources of an organization to heir full capacity
Which of the following is not the invitation of planning?
  • polices and rules which are once established are difficult to change
  • It is pervasive function
  • Rules and regulations of government
  • Both a&c
When selecting the right time range, what will be true? 
  • Short term plans are made with reference to long range plans
  • Short term plans are not made with reference to long range plans
  • Short term plans are irrespective of long range plans
  • Short term plans are independent and are not connected with long range plans.
Corporate strategy is ?
  • The implementation of plans to achieve long term aims
  • Vertical marketing strategy
  • More specific and practical than marketing strategy
  • Both a & b
Policies which are formed under pressure from external agencies such as government, trade associations and unions are known as ________.
  • originated policies
  • implied policies
  • imposed policies
  • all of these
The business plans that target internal goals are
  • Project plans
  • Operational plans
  • Strategic plan
  • Marketing plan
A flexible budget is
  • A budget that is constantly being changed
  • A budget that will be changed at the end of every month in order to reflect the actual costs of a department
  • A budget that is for a particular project
  • None of the above
To optimise the productivity of retail space and inventory is the proper strategy is 
  • Efficient store assortments
  • Revision of organisation processes by information systems
  • Efficient replacement
  • None oldie above
Activities that the firm performs especially well when compared to its competitors and through which the film adds value to its goods and services over a long period of time is called .__________.
  • core competency
  • core competence
  • competitive damage
  • competency
Policies are can NOT be
  • Written
  • Verbal
  • Implied
  • None of the above
_________ policies are formulated to meet the requirement of certain peculiar situations, usually request coming from subordinated who failed to handle the cases based on guidance offered by existing policies.
  • Originated
  • Appealed
  • Imposed
  • All of these
According to which (classical theorists) "structure is essential to achieve stated goal"?
  • Fayol
  • Taylor
  • Weber
  • All of them
 Identify the best definition of planning ?
  • An integrated process in which plans are formulated, carried out and controlled
  • The core activity of planners and planning departments
  • Devising ways of achieving the objectives of an organization
  • Setting an organization's objectives and the mean; of reaching them
An idea generation technique that specifically encourages any and all alternatives, is ___________.
  • interacting group
  • nominal group
  • brainstorming
  • electronic meeting
To calculate the number of persons required for various jobs with reference to planned output after giving weightage to factor such as absenteeism, idle time, etc. is called ___________.
  • Workforce analysis
  • Job analysis
  • Workload analysis
  • Succession planning
A collection of tasks and duties which are performed by one person is called ________.
  • job
  • duty
  • task
  • position
According to _________, planning is the selecting and relating of facts and the making and using of assumptions regarding the future in the visualization and formulation of proposed activities believed necessary to achieve desired results.
  • James
  • Koontz and O'Donnell
  • Haimann
  • George R. Terry
Ability of an organization to perform activities exceptionally well and gaining an edge over rivals when competing is known as  _______________.
  • core competency
  • core competence
  • competitive damage
  • competency
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