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Business Studies · 2024 · 4 marks
CBSE 2024 · Region 5 · Set 3 · Q27
(a) State any four characteristics of planning.
(a)
State any four characteristics of planning.
OR
(b)
Explain the following types of plans:
(i)
Policy
(ii)
Budget
Marking-scheme solution
Characteristics of planning:
(i)
It focuses on achieving organisational objectives.
(ii)
It is the primary function of management as it lays down the basis for all
other functions of management.
(iii)
It is pervasive as it is required in all organisations, at all levels and in all
departments.
(iv)
It is continuous because a plan is framed, implemented and is followed by
another plan.
(v)
It is futuristic as it involves looking ahead and preparing for the future.
(vi)
It involves decision making as it involves a choice from among the various
alternative courses of action.
(vii)
It is a mental exercise as it is intellectual activity of thinking rather than
doing.
(viii)
It provides the basis for controlling by providing standards.
OR
Q. (b) Explain the following types of plans:
(i)
Policy
(ii)
Budget
Policy
§ Policies are general statements that guide thinking or channelise energies
towards a particular direction.
§ Policies define the broad parameters within which a manager may function.
A manager may use his discretion to interpret and apply a policy.
Budget
§ A budget is plan which states expected results of a given future period in
numerical terms. It may be expressed in time, money or physical units.
§ It is an instrument of both planning and control. It comes under planning as
making a budget involves forecasting. It is also a control device as actual
figures can be compared with expected figures and deviations taken care of.
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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.