Planning

Identify the function of management depicted in the image.

• Planning

• organising

• staffing

• directing

Which of the given statement show that planning is mental exercise or intellectual activity ?

• The various functions of management are interrelated and equally important.

• Planning requires logical and systematic thinking rather than guess work or wishful thinking.

• Planning is required at all levels of management as well as in all departments of the organisation.

Planning is required at all levels of management as well as in all departments of the organisation. This statement shows the feature, Planning is Futuristic.

• True

• False

It is a one-time plan specifically designed to achieve particular goal that, once achieved will not recur in the future. Such Plan is developed to meet the needs of a unique situation.

• Single use plan

• Standing plan

Planning reduces risk of uncertainty. Find the suitable explanation relevant to the above point

• Business environment is uncertain.

• Changes or events cannot be eliminated but they can be anticipated and managerial responses to them

• Planning can eliminate future uncertainties

While planning the manager is required to make certain assumptions about the future like interest rate , demand for goods ,inflation etc. What are these assumptions called ?

The manager may use his/her discretion to interpret and apply this plan

• Policy

• Rule

These plans are there to ensure discipline.

• Policy

• Rule

It is a _________________of School to give admission to students securing more than 70%marks. Fill in the blank with type of plan .

Launching/constructing a new product from the scratch in the market is which type of plan.