Question : Sales forecasting is the basis on which a business firm prepares its annual plan for production and sales which feature of planning is highlighted in the above case?
Option 1: Planning focuses on achieving objectives
Option 2: Planning is continuous
Option 3: Planning is primary function of management
Option 4: Planning is futuristic
Correct Answer: Planning is futuristic
Solution : Planning always means looking ahead or planning is a futuristic function. Planning is never done for the past. All the manager try to make prediction and assumption for future. In the above case, Sales forecasting is the basis on which a business firm prepares its annual plan for production and sales. Planning is futuristic or forward looking feature is highlighted. Hence, option 4 is the correct answer.
Question : A plan is framed, implemented and followed by another plan and so on. Which feature of planning is highlighted in the above case?
Question : All other managerial function are performed within the framework of the plans drawn. Identify the related feature of planning.
Question : Adarsh wants to start a business of opening a fast food chain. Arti his friend, told him to perform planning as a function of management, as it precedes all function of management, i.e. organising, staffing, directing and controlling. Identify the feature of planning referred
Question : Planning is required in all types of organisation and at all levels of management. Identify the statement and choose the correct answer.
Question : The first step in the planning process is:
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