Business Studies Class 12 Case Studies With Solutions
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Case Study Of Business Studies Class 12 CBSE PDF
Business studies class 12 case studies with solutions, answers.
Part A & B: Principles and Functions of Management & Business Finance and Marketing
- Business Studies Class 12 Chapter 1 Case Studies
- Business Studies Class 12 Chapter 2 Case Studies
- Business Studies Class 12 Chapter 3 Case Studies
- Business Studies Class 12 Chapter 4 Case Studies
- Business Studies Class 12 Chapter 5 Case Studies
- Business Studies Class 12 Chapter 6 Case Studies
- Business Studies Class 12 Chapter 7 Case Studies
- Business Studies Class 12 Chapter 8 Case Studies
- Business Studies Class 12 Chapter 9 Case Studies
- Business Studies Class 12 Chapter 10 Case Studies
- Business Studies Class 12 Chapter 11 Case Studies
- Business Studies Class 12 Chapter 12 Case Studies
Case Studies in Business Studies Business Studies Case Studies Business Studies Commerce
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- Class - 12 WELCOME Business Studies Jofj;flos cWoog – II (Chapter-Planning) Prepared by: Pralhad Sapkota Pragati Secondary School, Hetauda- 9, Makawanpur, Nepal
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal Chapter 3: Planning of]hgf - LH 8 Learning Objectives: After completion of this chapter, students will be able to understand: Concept of planning Types of planning Planning process Need for planning Benefits of planning Limitation of planning What to do in future? How to do it? When to do it? By whom to do it? Who will be responsible? Why to do it?
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 3.1: Concept of planning of]hgfsf] cjwf/0ff lglZrt p2]Zo xfl;n ug{sf nflu eljiodf ug{'kg]{ sfdsf] ¿k/]vf klxn] g} tof/ ug]{ sfo{nfO{ of]hgf agfpg] elgG5 . of]hgf agfpg] sfd Joj:yfkgsf] dxTjk"0f{ k|fy{lds sfo{ xf] . of]hgf gagfO{ ;+:yfsf] s'g} klg sfo{ cufl8 a9g ;Qm}gg . of]hgf eGgfn] eljiodf cfˆgf] p2]Zo k|fKt ug{sf nflu s'g af6f] ;dft]/ lxF8g] egL klxn] g} lbzfaf]w u/fpg] tl/sf jf ?k/]vf eGg] a'lemG5 . of]hgf ;+:yfsf] p2]Zo lgwf{/0f tyf k|flKt;Fu ;DalGwt 5 . of] s] ug]{, s;/L ug]{, slxn] ug]{ / s;åf/f u/fpg] egL clu|d¿kdf ug]{ sfo{ xf] . o;n] xfdL sxfF 5f}F / sxfF hfg rfxG5f}F eGg] b"/LnfO{ hf]8g] k'nsf] sfd ub{5 . of]hgfljgf ;+:yfsf] s'g} klg sfo{ ug{' x'Fb}g, lsgeg] of]hgfljgf ul/Psf] sfo{ cFWof/f]df xflgPsf] tL/ a/fa/ xf] . of]hgf Ps eljiojf0fL ePsfn] ljZj;gLo tyf kof{Kt ;"rgfsf cfwf/df a'l4 / ljj]s k'ofP/ dfq agfpg'kb{5 . of]hgf a9L dxTjfsfÍIfL / a9L k/Dk/fjfbL x'g' x'Fb}g . of]hgf Ps af}l4s sfo{ xf] . To;}n] hf] sf]xLn] of]hgf agfpg ;Qm}g . of]hgf agfpg af}l4s Ifdtfsf ;fy} kof{Kt cg'ejsf] klg cfjZostf kb{5 . of]hgfljgf Joj:yfksn] ;Ë7g ug{, sd{rf/L Joj:yfkg ug{, lgb]{zg ug{ tyf lgoGq0f ug{ ;Qm}g . cfhsf] k|lt:kwf{Tds tyf kl/jt{gzLn jftfj/0fdf ;+:yfsf] pGglt tyf ;d[l4sf nflu of]hgf ckl/xfo{ x'G5 . of]hgf Joj:yfkgsf] hu xf] . o;sf] cefjdf Joj:yfkg sfo{ ;Dej xFb}g . of]hgf ;a} txsf Joj:yfksaf6 agfpg'kb{5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal of]hgfsf af/]df ljleGg ljåfGfx¿n] ljleGg 9+uaf6 kl/efiff lbPsf 5g . h;dWo] :6]km]g lk= /f]laG;sf cg';f/, of]hgf eg]sf] s] ug]{, s;/L ug]{, slxn] ug]{ tyf s;n] ug]{ eGg] klxn] g} ug]{ lg0f{o xf] . o;n] k|fKt ug{'kg]{ nIo k|bfg ub{5 . (Planning is deciding in advance about what to do, how to do it, when to do it, and who is to do it. It provides the ends to be achieved.) — Stephen P. Robbins To;}u/L hh{ cf/= 6]/Lsf cg';f/, of]hgf ck]lIft glthf xfl;n ug{sf nflu k|:tfljt lqmofsnfkx¿ tof/ ug{ / sNkgf ug{ tYox¿sf] 5gf]6 u/L p2]Zo;Fu ;DalGwt agfpg' xf] . (Planning is the selecting and relating of facts in the visualization and formation of purposed activities believed necessary to achieve desired result.) George R. Terry lgisif{df of]hgf lg/Gt/¿kdf rln/xg] Joj:yfksLo sfo{ xf], h'g sfo{n] eljiodf s], s;/L, slxn], sxfF ug]{ / s;åf/f u/fpg] egL clu|d¿kdf ¿k/]vf tof/ kfg]{ ub{5 . of] Ps lg0f{o k|lqmof xf] . o;cGtu{t p2]Zox¿, gLltx¿ tyf sfo{ljlwx¿ lgwf{/0f ug]{ sfo{x¿ kb{5g . To;sf/0f of]hgf ;/n / 5n{Ë a'lemg] u/L agfpg'kb{5 . sfo{sf] 7Ls ljZn]if0f / juL{s/0f ul/g'kb{5 . of]hgf kl/l:yltcg';f/ abNg ;lsg] nf]rbf/sf ;fy} ;Gt'lnt klg x'g'kb{5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal Nature/Features of Planning Primary function of management Objective focused Intellectual process Continuous process Related to future Pervasiveness Selective process Increased efficiency
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 1. On the Basis of Managerial Hierarchy Corporate plan Tactical plan Operational plan 2. On the Basis of Uses Single use plan Standing plan 3. On the Basis of Flexibility Specific plan Flexible plan 4. On the Basis of Time Long-term plan Mid-term plan Short-term plan Types of Planning 3.2: Types of planning of]hgfsf k|sf/x?
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal A. On the basis of breadth/ managerial hierarchy lj:tf/ jf Joj:yfksLo >+[vnfsf cfwf/df 1. Corporate or Strategic plan ;+:yfut jf /0fgLlts of]hgf ;Ë7gfTds p2]Zo;Fu ;DalGwt of]hgfnfO{ ;+:yfut jf /0fgLlts of]hgf elgG5 . o:tf] of]hgfn] ;Ë7gn] s] ug]{ eGg] s'/fsf] JofVof ub{5 . To;}n] /0fgLlts of]hgfn] ;Ë7gnfO{ b"/ufdL k|efj kfb{5 . of] of]hgf ;+:yfsf] cl:tTj, ljsf; / lj:tf/;Fu ;DalGwt x'G5 . To;}n] /0fgLlts of]hgf bL3{sfnLg x'G5 / o:tf] of]hgf pRr Joj:yfksåf/f tof/ ul/G5 . ;+If]kdf eGg] xf] eg] /0fgLlts of]hgf ;+:yfut nIo cyf{t ;+:yfsf] cleofg k|fKt ug{ pRr Joj:yfksåf/f tof/ kfl/g] of]hgf xf] . 2. Tactical or departmental plan sfo{gLlts jf ljefuLo of]hgf zfvf tyf ljefuLo :t/sf of]hgfnfO{ sfo{gLlts jf ljefuLo of]hgf elgG5 . sfo{gLlts p2]Zo -nIo_ k|fKt ug{sf nflu sfo{gLlts of]hgf tof/ kfl/G5 . ;fdfGotM o:tf of]hgfx¿ dWosfnLg cjlwsf x'G5g / dWod Joj:yfksåf/f tof/ kfl/G5g . 3. Operational or Unit plan ;~rfng jf PsfO{ of]hgf ;~rfng nIo k|fKt ug]{ p2]Zon] ;~rfng of]hgf tof/ ul/G5 . o;n] ;du| nIox¿ s;/L k|fKt ug{ ;lsG5 eGg]af/]df lj:t[t rrf{ ub{5 . ;~rfng of]hgf lgDg txsf Joj:yfksn] tof/ kfb{5g . o:tf of]hgfx¿ cNksfnLg x'g'sf cltl/Qm k|To]s PsfO{;Fu ;DalGwt x'G5g .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal B. On the Basis of Frequency of Use k|of]usf] af/Daf/tfsf cfwf/df 1. Single use plan Psn k|of]u of]hgf clåtLo jf gbf]xf]l/g] cj:yfsf] cfjZostf k"/f ug]{ p2]Zon] ljlzi6 ¿kn] tof/ ul/Psf] of]hgfnfO{ Psn k|of]u of]hgf elgG5 . o:tf of]hgfx¿ PskN6 dfq k|of]u ul/G5 . ah]6nfO{ Psn k|of]u of]hgfsf] pbfx/0fsf ¿kdf lng ;lsG5 . 2. Standing plan l:y/ jf lg/Gt/ k|of]u of]hgf ;+u7gdf lg/Gt/ ?kdf bf]xf]ofP/ ;Dkfbg ug{'kg]{ lqmofsnfknfO{ dfu{bz{g ug{ tof/ kfl/g] of]hgfnfO{ l:y/ of]hgf elgG5 . gLltlgodx¿ / sfo{ljlwx¿ l:y/ of]hgf cGtu{t kb{5g . o:tf of]hgfx¿ bL3{sfnLg x'G5g . C. On the Basis of Flexibility or Specificity nrstf jf ljlzi6tfsf cfwf/df 1. Specific Plan ljlzi6 of]hgf p2]ZonfO{ :ki6 ¿kdf kl/eflift ug]{ of]hgfx¿ ljlzi6 of]hgfx¿ x'g . o:tf of]hgfdf cGo cy{df JofVof ul/g] ;Defjgf /xFb}g . ljlzi6 sfo{ljlw, ah]6 afF8kmfF6, lqmofsnfkx¿sf] tflnsLs/0f cflb ljlzi6 nIodf k'Ug tof/ ul/g] of]hgf ljlzi6 of]hgfx¿ x'g . 2. Flexible plan nf]rbf/ of]hgf nf]rbf/ of]hgfnfO{ 8fO/]S;gn of]hgf klg elgG5 . o:tf of]hgfx¿n] ljlzi6 p2]Zo tyf sfo{ky k|bfg gu/L s]jn ;fdfGo dfu{bz{g dfq k|bfg ub{5g . o:tf of]hgfx¿nfO{ ;lhn};Fu kl/jt{g ug{ ;lsG5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal D. On the Basis of Time ;dosf cfwf/df 1. Long term plan bL3{sfnLg of]hgf ;+:yfut nIo k|fKt ug{ tof/ ul/Psf of]hgfnfO{ bL3{sfnLg of]hgf elgG5 . ;fdfGotM o:tf of]hgfx¿ tLg jf kfFr jif{eGbf a9L cjlwsf x'G5g . bL3{sfnLg of]hgfx¿ pRr Joj:yfksx¿åf/f tof/ kfl/G5g . ;a} /0fgLlts of]hgfx¿ bL3{sfnLg x'G5g . 2. Mid term plan dWosfnLg of]hgf sfo{gLlts nIo k|fKt ug{ tof/ ul/Psf of]hgfnfO{ dWosfnLg of]hgf elgG5 . ;fdfGotM o:tf of]hgfx¿ Psb]lv tLg jif{;Ddsf x'G5g . dWosfnLg of]hgfx¿ dWod Joj:yfksx¿åf/f tof/ kfl/G5g . ;a} sfo{gLlts of]hgfx¿ dWosfnLg x'G5g . 3. Short term plan cNksfnLg of]hgf ;~rflnt nIo k|fKt ug]{ p2]Zon] cNksfnLg of]hgfx¿ tof/ kfl/G5g . ;fdfGotM o:tf of]hgfx¿ Ps jif{ jf ;f]eGbf sd cjlwsf x'G5g . o:tf of]hgfx¿ lgDg txsf Joj:yfksx¿åf/f tof/ kfl/G5g . ;a} ;~rfng of]hgfx¿ cNksfnLg x'G5g .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal Self Assignment 1. What is Planning? Explain the natures of planning. of]hgf eg]sf] s] xf] < of]hgfx?sf k|s[ltsf] JofVof ug{'xf]; . 2. Explain the different types of planning. ljleGg k|sf/sf of]hgfx?sf] JofVof ug{'xf]; .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 3.3: Planning Process/ Steps of Planning of]hgf lgdf{0fsf k|lqmofx?/r/0fx?/ljlwx?
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 1. Analysis of Environment/Identification of need for planning jftfj/0fsf] ljZn]if0f/of]hgf cfjZoQmfsf] klxrfg jf:tljs of]hgf tof/ ug sfo{ ;? ug{'cl3 of]hgf lsg < / of]hgf s] sf] nflu < eGg] s'/f ofhgf tof/ ug]{ JolQmnfO{ k"0f{ hfgsf/L x'g'kb{5 . Joj;fosf] nflu cj;/x¿ sxfF sxfF /x]sf 5g ;f] s'/f yfxf kfpg jftfj/0fLo ljZn]if0f ub}{ ;an kIf tyf b'a{n kIfx¿;d]tnfO{ ljZn]if0f ug{'kb{5 . c;n of]hgf agfpg cj;/x¿sf nflu cfGtl/s tyf afXo jftfj/0fsf] lj:t[t ljZn]if0f ug{'kb{5 . 2. Setting Objectives/ Establishment of objective p2]Zo lgwf{/0f cj;/x¿sf nflu jftfj/0fsf] ljZn]if0f sfo{ ;DkGg ul/;s]kl5 p2]Zo lgwf{/0f sfo{ ug{'kb{5 . ;Ë7gsf] p2]Zo lgwf{/0f ubf{ :ki6 tyf k|fKt ug{ ;lsg] x'g'kb{5 . p2]Zo lgwf{/0f ubf{ ;Ë7gsf ;an / b'a{n kIfnfO{ Wofg k'/ofO{ pko'Qm p2]Zo to ug{'kb{5 . ;Ë7gsf] p2]Zo bL3{sfnLg jf cNksfnLg x'g ;Sb5 . p2]Zo lgwf{/0f ug]{ qmddf d"n p2]ZonfO{ ;xof]u ug{ ;Ë7gleqsf ljefux¿sf] klg 5'§f5'§} p2]Zo lgwf{/0f ug{'kb{5 . ;du|df eGg'kbf{ p2]Zo SMART -Specific, Measurable, Achievement, Realistic, Time_ x'g'kb{5 . 3. Development of Planning Premises of]hgf;DaGwL dfGotfsf] ljsf; ;Ë7gsf] p2]Zo lgwf{/0f ul/;s]kl5 ;f] p2]ZonfO{ k|efjsf/L 9Ëaf6 k|fKt ug{ eljiodf s] ug]{ < ;f] s'/fsf] k"jf{g'dfg ug]{ sfo{ g} of]hgf;DaGwL dfGotfsf] ljsf; xf] . hlt k"jf{g'dfg ;xL x'g ;Sb5 Tolt g} of]hgf ;kmn x'G5 . o; r/0fdf eljiosf] ahf/ cj:yfsf] k"jf{g'dfg, laqmL k"jf{g'dfg, j:t'sf] eljiodf nfut, eljiodf cfly{s, /fhgLlts tyf ;fdflhs ;f+:s[lts cj:yfdf cfpg] kl/jt{g cflbh:tf ljleGg k"jf{g'dfg ul/G5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 4. Identification of Alternatives ljsNkx¿sf] klxrfg of]hgf k|lqmofsf] o; rf}yf] r/0fdf ;Ë7gsf] p2]ZonfO{ k|fKt ug{ ;Sg] ljleGg ;DefJo ljsNkx¿sf] vf]hL tyf klxrfg ul/G5 . ljsNkx¿ PseGbf a9L x'g ;Sb5g . of]hgfljbn] cfˆgf] a'l4, ljj]s, sNkgf zlQm, cg'ej cflbsf] ;xof]uaf6 jf cGo afXo ;|f]tx¿, cg'ejL ljz]ifh= kqklqsf, k|lt:kwL{ cflbaf6 ;Íng ul/ ljsNksf] klxrfg ug{ ;Sb5 . of]hgf tof/ ubf{ hlt a9L ljsNkx¿sf] klxrfg x'g ;Sof] Tolt g} /fd|f] of]hgf tof/ ug{ ;lsG5 . 5. Evaluation of Alternative ljsNkx¿sf] d"NofÍg ;Ë7gsf] p2]Zo k|fKt ug{ ;Sg] ljleGg ;Defljt ljsNkx¿sf] klxrfg ul/;s]kl5 tL ;Defljt ljsNkx¿sf] d"NofÍg ug]{ sfo{ csf]{ r/0fdf ul/G5 . ljsNkx¿sf] d"NofÍg ubf{ nfut tyf kmfObfnfO{ cfwf/ agfO{ ;Ë7gsf] p2]Zo tyf of]hgfsf dfGotfx¿nfO{ ;d]t Wofg k'/Þofpg'kb{5 . ljsNkx¿sf] d"NofÍg ljlw a9L j}1flgs tyf Jofjxfl/s x'g'kb{5 . 6. Selecting the Best Alternative pQd ljsNksf] 5gf]6 ljsNkx¿sf] d"NofÍg ul/;s]kl5 d"NofÍgsf] cfwf/df pQd ljsNksf] 5gf]6 ug{'kb{5 . pQd ljsNksf] 5gf]6 Pp6f lg0f{o sfo{ ePsfn] of]hgfsf/n] xf]l;of/Lk"j{s ljsNksf] 5gf]6 ug{'k5{ . ljsNkx¿sf] 5gf]6 ubf{ Joj:yfks jf of]hgfsf/n] ljutsf] cg'ej, jt{dfg Joj;fosf] tyf ahf/sf] cj:yf, eljiodf s'g} ljsNk 5gf]6sf] k|efjnfO{ ;d]t Wofg k'/Þofpg'kb{5 . cfjZostf k/]df Joj:yfksn] PseGbf a9L ljsNkx¿sf] 5gf]6 ug{ klg ;Sb5g .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 7. Formulating Detail Supportive Plans lj:t[t ;xof]uL of]hgfx¿ lgdf{0f pQd ljsNksf] 5gf]6 sfo{kl5 lj:t[t of]hgfx¿ to ug]{ sfo{ ;DkGg ul/G5 . o; cGtu{t ;Ë7gsf] p2]Zo k|fKt ug{ ;DkGg ul/g] ljleGg sfo{sf] nflu 5'§f5'§} of]hgfx¿ tof/ ul/G5 . tof/ ul/g] lj:t[t of]hgfx¿ d"n of]hgfnfO{ ;xof]u k'/Þofpg] x'g'kb{5 . d'Vo of]hgf;Fu aflemg] lsl;daf6 ;xof]uL of]hgfx¿ lgdf{0f ul/g'x'Fb}g . o;cGtu{t 5'§f5'§} sfo{sf] gLlt to ug]{ sfo{, lgodx¿ lgdf{0f ug]{ sfo{, ah]6 to ug]{ cflbh:tf sfo{x¿ kb{5g . 8. Implementation of Plan of]hgf nfu" ug{' of]hgfsf] o; dxTjk"0f{ r/0fdf o; cl3sf sfuhL sfo{nfO{ k|of]ufTds If]qdf nfu' ul/G5 . of]hgfnfO{ sfo{¿k lbg h] hlt sfo{x¿ ;DkGg ul/G5g tL ;Dk"0f{ sfo{x¿ o; cj:yfdf g} ;DkGg ul/G5 . o; cGt/ut ;Ë7g;Fu ;DalGwt ljleGg kIfnfO{ hfgsf/L lbg', sd{rf/Lx¿nfO{ cfjZos lgb]{zg tyf ;'emfj k|bfg ug{', pTkfbg tyf ;~rfngsf nflu cfjZos ;|f]tx¿ h:t}M d]l;g, sRrf kbfy{, k"FhL, cf}hf/sf] ;Íng clb ljleGg sfo{x¿ ;DkGg ug{'kb{5 . 9. Reviewing the Planning of]hgf k'g/fjnf]sg of]hgf Joj:yfkgsf] Ps lg/Gt/ rln/xg] Ps k|lqmof xf] . of]hgf eljiosf nflu tof/ ul/g] x'Fbf h'g dfGotfsf cfwf/df of]hgf agfOPsf] 5 ;f] dfGotf eljiodf oyfy{ gx'g ;Sb5 . To;}n] Joj:yfkg kIfn] tof/ u/L nfu" u/]sf] of]hgfsf] k|efjsfl/tf tyf sdhf]/Lx¿nfO{ ;dodf g} ;'wf/ ul/ cfufdL of]hgf cem ;'b[9 agfpg kl/dfh{g ug{'kb{5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 3.4: Need / Rationale for Planning of]hgfsf] cfjZoQmf tyf cf}lrTo of]hgf Joj:yfkgsf] cfwf/e"t sfo{ xf] . of]hgfn] ;Ë7gsf] p2]Zo lgwf{/0f ul/ ;Ë7gnfO{ :ki6 lbzf k|bfg ug'{sf] ;fy} dfgjLo tyf cGo ;|f]tx¿sf] ;b'kof]u ug{df ;d]t ;xof]u k'/ÞofpFb5 . of]hgfn] Pp6} sfo{nfO{ bf]xf]l/gaf6 /f]Sg'sf ;fy} cfjZos s'g} sfo{ g5'6f]; eGg] p2]Zo /fv]sf] x'G5 . To;}n] ;+u7gsf] Joj:yfkgdf c;n of]hgfsf] cfjZoQmf 5 . of]hgfsf] cfjZostfnfO{ lgDglnlvt a'Fbfx¿af6 cem :ki6 kfg{ ;lsG5 M Focus on objective To perform other functions of management Basis of control Effective decision Facilitates coordination Forecasting and utilization of resources Improve competitive strength
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 1. Focus on objective p2]Zodf s]lG›t ;Ë7gsf ;Dk"0f{ lqmofsnfk p2]Zo k|flKttkm{ pGd'v x'G5g . of]hgfn] p2]Zo lgwf{/0f ug'{sf] ;fy} lgwf{l/t p2]Zo k|efjsf/L 9Ëaf6 k|fKt ug{ Joj:yfks tyf cGo sd{rf/Lx¿sf] Wofg s]lG›t u/L k|zf;s / sd{rf/Lx¿nfO{ ;Ë7gsf] p2]Zoaf6 ljd'v x'g lbb}g . 2. To perform other functions of management Joj:yfkgsf cGo sfo{ ;DkGg ug{ of]hgf Joj:yfkgsf] cfwf/e"t sfo{ xf] . Joj:yfkgåf/f ;DkGg ul/g] ;Ë7g, lgoGq0f, lgb]{zg, g]t[Tj, ;dGjo, pTk|]/0ff cflb cGo sfo{x¿ of]hgfljgf ;DkGg ug{ ;ls+b}gg . Joj:yfkgsf cGo sfo{x¿nfO{ k|efjsf/L agfpg of]hgf cfjZos x'G5 . 3. Basis of control lgoGq0fsf] cfwf/ of]hgf lgoGq0fsf] cfwf/ xf] . ;Ë7gleq ;DkGg ul/g] ljleGg lqmofsnfkx¿nfO{ lgoGq0f ug]{ Pp6f lglZrt nIo tyf k|dfksf] -Standard_ cfjZostf kb{5 . of]hgfn] lgoGq0f sfo{nfO{ k|efjsf/L agfpg lqmofsnfksf] k|dfk k|bfg ub{5 . t;y{ of]hgf Joj;fodf clt cfjZos 5 . nIocg'¿k sfo{ eO/x]sf] 5 jf 5}g ;f] dfkg ug{ of]hgfsf] ;xof]u lnOG5 . nIo cg'¿k sfo{ gePdf ;dodf g} ;'wf/fTds sfo{ ug{ ;lsG5 . 4. Effective decision k|efjsf/L lg0f{o of]hgfn] lg0f{o sfo{nfO{ klg k|efjsf/L agfpgdf ;xof]u ub{5 . of]hgfn] s] ug]{, s;/L ug]{, s;n] ug]{, slxn] sfo{ ug]{h:tf k|Zgx¿sf] hjfkm lbg] x'Fbf lgoldt k|s[ltsf lg0f{ox¿ lng Joj:yfkg kIfnfO{ of]hgfn] cfwf/ k|bfg ub{5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 5. Facilitates co-ordination ;dGjodf ;xof]u of]hgfn] ;Ë7gsf ljleGg ljefux¿sf] aLrdf ;dGjo :yflkt ug{df ;xof]u k'/ÞofpF5 lsgls k|To]s ljefux¿n] ;DkGg ug]{ sfo{x¿ of]hgfdf :ki6 pNn]v ul/Psf] x'G5 . of]hgfn] cgfjZos ¿kdf sfo{x¿ bf]xf]l/g jf sfo{x¿ 5'6g lbFb}g . 6. Forecasting and utilization of resources ;|f]tx¿sf] k"jf{g'dfg tyf ;b'kof]u of]hgfn] ;Ë7gdf s] s] ;|f]tx¿ slt dfqfdf cfjZos kb{5g < ;f] kQf nufpg ;xof]u ub{5 . dfgjLo ;|f]t, k"FhL, d]l;g/L, pks/0f cflbsf] k"jf{g'dfg u/L ;f]sf] Joj:yfkg sfo{ ug{ of]hgfn] ;xof]u ub{5 . of]hgfn] ljleGg ;|f]tx¿sf] ;b'kof]u ug{df ;d]t ;xof]u k'ofpFb5 . gf]S;fgLnfO{ 36fO{ ;|f]tsf] clwstd ;b'kof]u ug]{ sfo{ of]hgfn] u5{ . 7. Improve competitive strength k|lt:kwf{ ug]{ Ifdtfdf ;'wf/ cjZo klg of]hgf agfO{ Jofj;flos lqmofsnfk ;~rfng ug]{ ;Ë7gn] cfˆgf] nIo k|efjsf/Lk"0f{ 9Ëaf6 k|fKt ug{ ;Sb5 . t/ of]hgfljgf ;~rfng ul/g] s'g} klg Jofj;flos sfo{n] p2]Zo k|fKt ug{ ;Sb}g . /0fgLlt;DaGwL of]hgfn] Joj;fonfO{ k|lt:kwf{ ug]{ Ifdtfdf ;'wf/ ub{5 . o;y{ dfly plNnlvt ljleGg aFbfx¿sf ;fy} of]hgfsf] cfjZostf ;Ë7gsf] k|efjsfl/tfdf j[l4 ug{, gofF ;f]r jf wf/0ffx¿sf] ljsf; ug{, clglZrttfnfO{ Go"g agfpg of]hgfsf] cfjZostf kb{5 . of]hgfsf] cefjdf ;DkGg ul/g] lqmofsnfk lbzfxLg lqmofsnfk xg hfG5g, t;y{ of]hgf Joj;fodf cfjZos x'G5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal Self Assignment 1. Describe the steps of planning process. of]hgf th{'dfsf r/0fx?sf] Jf0f{g ug{'xf]; . 2. Why planning is necessary for the business organization? Explain. Jofj;flos ;+u7gdf of]hgf lsg cfjZos 5 < Jf0f{g ug{'xf]; .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 3.5: Benefits /Advantages / Importance of Planning of]hgfsf] kmfO{bfx? tyf dxTjx? Reduce uncertainty Focused on objective Facilitate to effective control Better coordination Improves motivation Improvement in competitive strength Utilization of resources Effective Control
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 1. Reduce Uncertainty clglZrttf 36fpg] kl/jt{gzLn tyf clglZrt Jofj;flos jftfj/0fLo If]qdf ef]ln s] x'G5 ;f] s'/f cfh eGg ;lsFb}g . c;n of]hgfsf] sf/0fn] ubf{ eljiodf k|lt:kwf{sf] cj:yf, pkef]Qmfsf] cfly{s cj:yf, cfzf ul/Psf] laqmL dfqf, eljiosf] /fhgLlts cj:yf cflbsf] af/]df Joj:yfkgn] ljZj;gLo ;"rgfx¿ k|fKt ug]{ ePsf]n] eljiosf] clglZrttfnfO{ Joj;fon] ;lhn} ;fdgf ug{ ;Sg] ;f]r tyf zlQm k|bfg ub{5 . 2. Focus on Objective p2]Zo s]lG›t of]hgfn] Joj:yfks tyf sd{rf/Lx¿sf] WofgnfO{ ;Ë7gsf] p2]Zotkm{ s]lG›t ub{5 . of]hgfn] eljiosf lqmofsnfknfO{ lgwf{/0f u/L ;Ë7gnfO{ Ps lglZrt lbzf k|bfg ub{5 . of]hgfn] p2]ZoxLg lqmofsnfknfO{ Go"g kfb{5 . 3. Facilitates Control lgoGq0fdf ;xof]u of]hgfn] ;Ë7gleq ;DkGg ul/g] ljleGg sfo{x¿sf] dfkb08 jf k|dfk k|bfg ub{5 . of]hgfn] k|bfg u/]sf] k|dfknfO{ cfwf/ dfgL ;Ë7gsf] sfo{x¿sf] dfkg tyf d"NofÍg ul/G5 . k|dfk cg'¿k jf:tljs sfo{ ;DkGg gePsf] eP jf k|dfk / jf:tljs sfo{sf] aLr ljrng -km/s_ b]vfk/]df ;dodf g} ;'wf/fTds sfo{ ;~rfng ug{ ;lsG5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 4. Better Co-ordination c;n ;dGjo of]hgfn] ;Ë7gsf ljleGg ljefu tyf zfvfx¿sf] aLrdf ;dGjo :yfkgf ug]{ sfo{df ;d]t ;xof]u k'/ÞofpFb5 . ;Ë7gsf] p2]Zo k|fKt ug{ ;Ë7gleqsf zfvf tyf ljefux¿sf] sfo{ nIod'vL xg'kb{5 . of]hgfn] zfvfx¿sf aLr ;dGjo :yflkt u/L ltgnfO{ Pp6} nIotkm{ 8f]/ÞofpFb5 . To:t} of]hgfn] ljleGg ljefu tyf sd{rf/Lx¿sf clwsf/ / st{Jox¿nfO{ lglZrt ub{5 . o; sfo{n] c;n ;dGjodf yk ;xof]u k|fKt x'G5 . 5. Improves Motivation pTk|]/0ffdf ;'wf/ c;n of]hgfn] ;Ë7gdf pTk|]/0ff sfo{df ;'wf/ ug{ d2t k'/ÞofpFb5 . c;n of]hgfn] ljleGg kIf;Fu ;DalGwt Joj:yfksx¿sf] ;xeflutfnfO{ of]hgf lgdf{0f sfo{df k|fyldstf lbG5, kmn:j¿k Joj:yfksx¿ a9L pTk|]l/t x'g'sf ;fy} cGo dftxtsf sd{rf/Lx¿;d]t of]hgfsf] nIo k|fKt ug{ tkm{ cu|;/ x'G5g . 6. Improve Competitive Strength k|lt:kwf{ ug]{ Ifdtfdf ;'wf/ c;n of]hgfn] ;Ë7gnfO{ eljio;DaGwL ljleGg dxTjk"0f{ ;"rgfx¿ k|bfg ub{5 . To:t} eljiodf b]vfkg{ ;Sg] ljleGg Jofj;flos ;d:ofx¿nfO{ s;/L ;dfwfg ug]{ eGg]af/] of]hgfn] :ki6 dfu{bz{g ub{5 . of]hgfcGtu{t /0fgLlt;DaGwL of]hgf klg agfOG5, h;n] k|lt:kwf{ ;fdgf ug{ ;Sg] Ifdtfdf j[l4 ub{5 . of]hgf gofF gofF cj;/x¿sf] cg';Gwfg ug]{ sfo{ ub{5 . o;n] cGo Jofj;flos ;Ë7g;Fu k|lt:kwf{ ug{ ;xof]u k'/ÞofpFb5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 7. Utilization of Resources ;|f]tx¿sf] ;b'kof]u c;n of]hgfn] ;Ë7gdf pknAw dfgjLo ;|f]t, k"FhL, d]l;g cf}hf/ cflbh:tf ;|f]tx¿sf] ;b'kof]u ub{5 . of]hgfn] ;|f]tx¿sf] cgfjZos k|of]unfO{ 36fO{ pTkfbgzLn If]qdf ;|f]tsf] ;bkof]u ug{ k|f]T;flxt ub{5 . of]hgfn] ;|f]tsf] ;b'kof]u u/L ;Ë7gsf] sfo{bIftfdf j[l4 ub{5 . s'g ;|f]tnfO{ s;/L k|efjsf/L 9Ëaf6 ;b'kof]u ug{ ;lsG5 ;f] s'/f of]hgfdf pNn]lvt ul/Psf] x'G5 . 8. Effective Control k|efjsf/L lgoGq0f k|efjsf/L lgoGq0fsf] d'Vo cfwf/ g} of]hgf xf] . Joj:yfkgsf of]hgf;DaGwL sfo{ / lgoGq0f sfo{ Ps csf{;Fu ;DalGwt sfo{x¿ x'g . of]hgfljgf lgoGq0f sfo{ ;Dej x'Fb}g eg] lgoGq0fljgfsf] of]hgf cf}lrToxLg x'G5 . t;y{ k|efjsf/L lgoGq0fsf] cfwf/ ePsf]n] klg c;n of]hgfsf] dxTj /x]sf] 5 .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 3.6: Limitations/ constraints/ Weaknesses of Planning of]hgfsf ;Ldfx? Costly and time consuming Lack of flexibility Rapid change of premises External limitations Lack of reliable data Internal limitations of]hgf Joj:yfkgsf] cfwf/e"t Pjd Hofb} dxTjk"0f{ sfo{ xf] . of]hgfn] ;Ë7gsf] p2]Zo k|flKtdf dxTjk0f{ e'ldsf lgjf{x u/]sf] x'G5, tfklg of]hgfsf sxL lgDglnlvt ;Ldfx¿ tyf sdhf]/Lx¿ klg /x]sf 5g .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 1. Costly and time consuming process vlr{nf] tyf a9L ;do nfUg] k|lqmof of]hgf agfpg a9L ;do >f]t tyf >dsf] cfjZostf kb{5 . ;fy} of]hgf agfpg a9L /sd;d]t vr{ ug{'kb{5 . ljleGg cfjZos ;"rgf ;Íng ug{, ljsNkx¿sf] d"NofÍg ug{, lj:t[t sfo{ of]hgf tof/ kfg{ Joj;fo jf ;Ë7gn] s]xL ;do tyf >d vr{ ug{'kb{5 . ;fy} dfly plNnlvt ljleGg sfo{x¿ ;DkGg ug{ ljz]if1x¿sf] ;]jf klg cfjZos kb{5 h;df clws /sd klg vr{ ug{'kb{5 . 2. Lack of Flexibility nlrnf]kgsf] cefj of]hgfdf k"j{lgwf{l/t gLlt lgodx¿sf] cfwf/df sfo{x¿ ;DkGg ul/G5g . o;n] ubf{ k|aGwsn] cfˆgf] :jljj]ssf] k|of]u ug{ kfpFb}g . ;fy} jt{dfgdf eljiosf nflu tof/ ul/g] /0fgLlt;DaGwL of]hgfx¿ k|ljlwdf cfPsf] kl/jt{g, k|lt:kwf{, km];gdf cfpg] kl/jt{g cflbaf6 k|efljt eO{ ;'wf/ ug{'kg]{ jf gofF of]hgf agfpg'kg]{ x'g ;Sb5 t/ of]hgfn] ljutdf lgwf{l/t gLlt / ljlwsf] cfwf/df g} sfo{ ;DkGg ug{ ;'emfj lbG5 . 3. Lack of Reliable Data ljZj;gLo tYofÍsf] cefj of]hgf eljiodf x'g ;Sg] ;DefJo dfGotfsf] cfwf/df tof/ ul/G5 . t/ eljio clglZrt / cg'udg ug{ g;lsg] x'g] ePsf]n] of]hgf tof/ ug{ eljiosf nflu ;Ílnt tYofÍx¿ ljZj;gLo x'Fb}g . ljZj;gLo tYofÍx¿sf] cefjdf tof/ ul/Psf] of]hgf klg k|efjsf/L x'Fb}g .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal 4. Rapid Change of Premises dfGotfsf] zL3| kl/jt{g of]hgfsf] csf]{ ;Ldf dfGotfsf] zL3| kl/jt{g x'g' klg xf] . eljiodf x'g] pkef]Qmfsf] ?lr, rfxgf, wf/0ff, km];gdf cfpg] kl/jt{g, k|ljlwdf cfpg] kl/jt{g cflbsf af/]df of]hgfljbn] jt{dfgdf s]xL dfGotfx¿ agfPsf] x'G5 t/ ahf/sf dfGotfx¿ ;dosf] ;fy;fy} kl/jt{g x'Fb} hfG5g h;n] ubf{ k"/fgf dfGotfsf] cfwf/df tof/ ePsf] of]hgf nfu" ug{ ufx|f] x'G5 . 5. External Limitations afXo ;Ldfx¿ of]hgf nfu" ug{df ;/sf/L gLlt, k|fs[lts k|sf]k, k|ljlwdf kl/jt{g, d"Nodf ePsf] kl/jt{g cflb afXo tTjx¿sf] Hofb} dxTjk"0f{ e"ldsf /x]sf] x'G5 . jfXo tTjx¿nfO{ Joj;fon] lgoGq0f ug{ ;Sb}g a? afXo tTjx¿sf] cfwf/df cfkm"nfO{ ;'wf/ ug{'kb{5 . afXo tTjx¿ Joj;fosf] kIfdf geP;Dd hlt;'s} /fd|f] of]hgfsf] th{'df ul/P tfklg Tof] of]hgf ;kmn x'g ;Sb}g . 6. Internal Limitations cfGtl/s ;Ldfx¿ sfdbf/x¿sf] dgf]lj1fg, Joj;fosf] k"FhL, gLlt tyf sfo{ljlw;DaGwL d'Vo cfGtl/s tTjx¿n] of]hgf nfu" ug{df ;d:of l;h{gf ug{ ;Sb5g . sfdbf/n] dgf]j}1flgs ¿kdf k"/fgf] sfo{ljlw jf sfo{z}nLnfO{ g} k|fyldstf lbG5g . pgLx¿ k6s k6s kl/jt{g ?rfpFb}gg . To:t} Joj;fosf gLltlgodx¿ k6s k6s kl/jt{g ug{ ufx|f] x'G5 . h:n] of]hgf nfu" ug{ ;d:of l;h{gf u5{ .
- Class 12, Business Studies, Planning: Prepared by Pralhad Sapkota, Pragati Secondary School Hetauda – 9, Makawanpur, Nepal Self Assignment 1. Explain the benefit and limitation of planning. of]hgfsf] kmfO{bfx? / ;Ldfx?af/] Jf0f{g ug{'xf]; .
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Class 12 Business Studies Planning Extra Questions
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Class 12 Business Studies Planning Extra Questions. myCBSEguide has just released Chapter Wise Question Answers for class 12 Business Studies. There chapter wise Practice Questions with complete solutions are available for download in myCBSEguide website and mobile app. These test papers with solution are prepared by our team of expert teachers who are teaching grade in CBSE schools for years. There are around 4-5 set of solved Business Studies Test Papers from each and every chapter. The students will not miss any concept in these Chapter wise question that are specially designed to tackle Exam. We have taken care of every single concept given in CBSE Class 12 Business Studies syllabus and questions are framed as per the latest marking scheme and blue print issued by CBSE for class 12.
CBSE Class 12 Business Studies Ch – 4
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Questions and answers for Class 12 Business Studies
Chapter – 4 Planning
“Planning leads to rigidity” is a (1)
- Feature of Planning
- Process of planning
- Limitation of Planning
- Importance of Planning
What to do and how to do is concerned with______ (1)
- Controlling
Selection of employees is _____________ of the business (1)
- None of these
The first step of planning is _____________ (1)
- Implementing the plan
- Follow up action
- Selecting an alternative
- Setting objectives
‘Planning eliminates changes/uncertainties’. Do you agree? Give reason in support of your answer. (1)
How does planning create rigidity? (1)
It helps the manager to look into future and make a choice amongst various alternative courses of action. Enumerate the importance of planning indicated here (1)
Name the type of plan which is time-bound and linked with a measurable outcome. (1)
“Planning is Pervasive”. Explain briefly. (3)
How is planning forward looking? (3)
Explain “Objective” and “Policy” as types of plan using suitable examples. (4)
What are the main points in the definition of planning? (4)
Defining ‘organizational objectives’ as the first step in the process of planning. Explain in brief the other steps of this process. (5)
State any three limitations of planning. (5)
‘Mrs Renu Natrajan’, the Principal of Prince Public School’ appointed Mr Sansar Chand as the coach for football team which was to play the final match in the State-Level Tournament. During training the coach inspired the players to make up their mind to win the match in all circumstances. Also he stressed that they had to win the match with the difference of at least five goals from the losing team. He explained special methods to the players for playing both offensive and defensive game. Also he told them how after beating the opponents, football would be passed from one player to the other until it reached the goal box of the opposite team. At the end of the training, the coach warned all the players against misbehaving with any of the players of the opposite team, otherwise, they could be punished.
- Identify the concept of the planning functions of management described in the paragraph given above.
- Explain the four types of concept identified in point 6a ’ by quoting the relevant lines. (6)
CBSE Test Paper – 01 Chapter – 4 Planning
- Limitation of Planning Explanation: since planning is done in a predetermined manner, little scope is left for the manages and workers to use their ability and experiences, resulting in rigidity in planning.
- Planning Explanation: Planning involves setting objectives and developing course of action for future. It is deciding in advance as to what to do and how to do.
- Procedure Explanation: Procedure involves to establish required sequence of steps in advance to handle the future problems. e.g. procedure of selection of employees, procedure for admission in a school
- Setting objectives Explanation: Objectives are the ends towards which all the activities are directed. Thus planning begins with objectives because all the policies, strategies, procedures etc. are formed to achieve objectives only. Therefore the first step of planning is setting up the objectives.
- No, I do not agree because planning only tries to foresee the future by making some assumptions. It does not eliminate changes/ uncertainties.
- Since plans are formed by top level of managers and rest of the organisation is neither allowed to deviate from those plans nor to invent any new alternatives. It results in rigidity in operations.
- Planning facilitates decision-making.Because plans decide the future course of actions. The objectives and goals are set before hand. These facilitate the managers to take quick decisions.
- Both objectives and budget are time bound and linked with measurable outcomes.
- Planning is the pervasive function of the management. It is required in all the types of organisation, whether big or small, business or non-business, social, political or religious. It is needed in all the departments of the organisation. Planning is performed even at all levels of management at the top, middle and lower level. As top level managers plan to make objectives and policies for the organisation. Middle-level managers plan to implement policies and rules among their departments. Lower level managers plan to control, inspect and supervise workers in the factory. In this way, planning is all pervasive.
- Planning is forward-looking because it essentially involves looking ahead and preparing for the future. The purpose of planning is to meet future events effectively to the best possible advantage of the organisation. It is always for the future and never for the past. It involves peeping into the future, analysing and then preparing plans accordingly. For e.g. on the basis of the sales forecasts, annual plans for production are drawn.
- Objectives: Objectives are those endpoints which every organization strives to achieve. These are the basic reason for a firm’s existence. These are usually stated in measurable terms. These are time-bound i.e these are to be achieved within a given period of time. All the activities of the organisation are directed towards the attainment of the objectives. These provide broad direction to employees about what they should do. For e.g. it is a firm’s objective to increase its sales targets by 20%. Policy: A Policy is a general statement that guides decision making. It acts as a guide to managerial actions and decisions in implementing strategy. A policy defines the boundaries within which decisions can be made by the subordinates. The main purpose of policies is to provide a practical shape to objectives by elaborating the manner in which goals are to be achieved. Policies play important role in setting the parameters within which a manager may function. There are different policies at different levels ranging from major company policies to minor policies. Major policies are concerned with the market, competitors, customers and clients etc. whereas minor policies are concerned with the insiders.
- Time period
- Formulating alternatives course of action
- Selecting a course of action.
- Establishing Planning Premises
- Identifying the Alternative Courses of Actions
- Evaluating the Alternative Courses
- Selecting the Best Alternative
- Implementing the Plan
- Follow-up Action
- Establishing Planning Premises: Planning premises are the anticipated environments in which plans are expected to operate. They include assumptions or forecasts of the future. Premises provide useful facts and information to the managers to facilitate the work of planning. Various assumptions regarding government policies, prices, taste, and preference etc are made.
- Identifying the Alternative Courses of Actions: On the basis of objectives to be achieved, alternative courses of doing a particular work are discovered. It is a difficult task and it depends upon the creativity and logical thinking of the planner which opens up different avenues for the firm.
- Evaluating the Alternative Courses: In this stage, it is seen as to what extent an alternative course can help in the attainment of the objective. Every alternative has its own pros and cons. Each alternative is carefully evaluated with all its merits and demerits and their feasibility is judged accordingly.
- Selecting the Best Alternative: The next step is to find out the most suitable course to be followed. Efforts are directed towards selecting that course which increases efficiency in the organization by maximizing output and profits at minimum costs. The best-suited for the purpose is selected.
- Implementing the Plan: After having decided the Chief Plan and the subsidiary plans, they are to be implemented. At this step, a plan is transformed from a thought (a dream) to an action (reality) by activating the other managerial functions.After implementing the plans the sequence of different activities are also decided.
- Follow-up Action: The process of planning does not end with the implementation of plans. There should be a constant review of the plans to ensure success in an uncertain future. Due to uncertainties of future, it is necessary that the plan should be evaluated from time to time to measure its effectiveness and to see that the objectives are achieved or not.
- Planning Reduces Creativity: Under planning, all the activities connected with the attainment of the objectives of the organization are preconceived and predetermined. Consequently, everybody works as they have been directed to do and as it has been made clear in the plans. Managers can’t think of any new ways for doing the tasks. Thus, it reduces creativity.
- Planning Does not work in Dynamic Environment: Planning is based on the anticipation of future happenings. Since the future is uncertain and dynamic, therefore the future anticipations are not always true. Planning does not work in the dynamic environment as plans are rigid with least scope of any changes.
- Planning Involves Huge costs: In planning a lot of work is to be done, a lot of information is to be collected. When so many people remain busy in the same activity, the organization faces huge costs. Also, it involves applying of forecasting techniques, determining alternatives, analyzing data etc. All these make planning a costly process.
- Operational Planning: “Operational plans are about how things need to happen ,” motivational leadership speaker Mack Story said at LinkedIn. “Guidelines of how to accomplish the mission are set.” This type of planning typically describes the day-to-day running of the company. Operational plans are often described as single use plans or ongoing plans. Single use plans are created for events and activities with a single occurrence (such as a single marketing campaign). Ongoing plans include policies for approaching problems, rules for specific regulations and procedures for a step-by-step process for accomplishing particular objectives.
- Strategic Planning: “Strategic plans are all about why things need to happen,” Story said. “It’s big picture, long-term thinking. It starts at the highest level with defining a mission and casting a vision.” Strategic planning includes a high-level overview of the entire business. It’s the foundational basis of the organization and will dictate long-term decisions. The scope of strategic planning can be anywhere from the next two years to the next 10 years. Important components of a strategic plan are vision, mission and values.
- Tactical Planning: “Tactical plans are about what is going to happen,” Story said. “Basically at the tactical level, there are many focused, specific, and short-term plans, where the actual work is being done, that support the high-level strategic plans.”
- Contingency Planning: Contingency plans are made when something unexpected happens or when something needs to be changed. Business experts sometimes refer to these plans as a special type of planning. Contingency planning can be helpful in circumstances that call for a change. Although managers should anticipate changes when engaged in any of the primary types of planning, contingency planning is essential in moments when changes can’t be foreseen. As the business world becomes more complicated, contingency planning becomes more important to engage in and understand.
Chapter Wise Extra Questions for Class 12 Business Studies
Part -i and part – ii.
- Nature and Significance of Management
- Principles of Management
- Business Environment
- Financial Management
- Financial Markets
- Marketing Management
- Consumer Protection
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