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Business Studies · 2024 · 6 marks
CBSE 2024 · Region 4 · Set 2 · Q31
(a) Explain the following as types of plans: (i) Objectives (ii) Policy (iii) Programme
(a)
Explain the following as types of plans :
(i)
Objectives
(ii)
Policy
(iii)
Programme
OR
(b)
Explain the following limitations of planning function of management :
(i)
Planning reduces creativity.
(ii)
Planning involves huge costs.
(iii)
Planning does not guarantee success.
Marking-scheme solution
(i)
Objectives:
Objectives are the desired future position that the management
would like to reach, which need to be expressed in specific terms
and should be in the form of a written statement.
They are usually set by top management of the organization and
focus on broad, general issues.
(ii)
Policy:
Policies are general statements that guide thinking or channelise
energies towards a particular direction.
They are guides to managerial action and decisions in the
implementation of strategy.
(iii)
Programme:
Programmes are detailed statements about a project which
outlines the objectives, policies, procedures, rules, tasks, human
and physical resources required and the budget to implement any
course of action.
It will include the entire gamut of activities as well as the
organisation’s policy and how it will contribute to the overall
business plan.
Explain the following limitations of planning function of
management:
(i)
Planning reduces creativity.
(ii)
Planning involves huge cost.
(iii)
Planning does not guarantee success.
Limitations of planning function of management:
(i)
Planning reduces creativity:
Middle management and other decision makers are neither
allowed to deviate from plans done by top management nor are
they permitted to act on their own.
Thus, much of the initiative or creativity inherent in them also
gets lost or reduced.
(ii)
Planning involves huge cost:
When plans are drawn up huge costs are involved in their
formulation in terms of time and money.
The costs incurred sometimes may not justify the benefits derived
from the plans.
(iii)
Planning does not guarantee success:
Managers have a tendency to rely on previously tried and tested
successful plans.
It is not always true that just because a plan has worked before it
will work again.
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CBSE Class 12 Business Studies past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.