question_answer 1)
'Dreams can be turned into reality only when managers think in advance what to do and how to do it'. Identify the function of management indicated by the statement.
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question_answer 2)
Identify the key elements of planning from the following.
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question_answer 3)
Which of the following statements is false with respect to planning?
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question_answer 4)
Which of the following is a feature of planning?
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question_answer 5)
Planning gives direction, reduces the impact of change, minimises waste and redundancy and establishes chaos among departments
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question_answer 6)
Which of the following is not a step in the process of planning?
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question_answer 7)
"All other managerial functions are performed within the framework of the plans drawn. Thus, it can be said that planning preceeds other functions." This statement describes which function of planning?
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question_answer 8)
A Co is manufacturing garments. The manager wants to increase profits by purchasing new high speed machines or increasing the sale price or using waste materials in manufacturing stuffed toys. He decided that "using waste material" is the best solution for him. Identify the concept of management involved.
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question_answer 9)
It requires application of mind involving foresight, intelligent, imagination and sound judgement. Which feature of planning is indicate here?
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question_answer 10)
Rahul decided to start a desert cooler manufacturing business. He sets the target of earning 20% profit on sales in the first year. He was very much concerned about the future prospects of the business, which were uncertain. For this, he gathered information from the potential market and analysed that the demand for wall mounted coolers is increasing day by day. He used this information as the base for future planning. On the basis of the gathered information, he called a meeting in the following week to find new methods to achieve the objective. Identify the function of management involved in the above case.
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question_answer 11)
'Bawa Cycles' was in the business of manufacturing racing cycles and had a monopoly in the market. The business was doing well and the company was consistently meeting its objective of 10% increase in sales every year. Encouraged by the good track record, the Managing Director of the company kept an ambitious target of 15% increase in sales for the next year. The same year, two competitors also entered the market and because of this the company was not able to meet target. Identify the limitation of one of the functions of management because of which the company was not able to achieve its target.
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question_answer 12)
Gautama, Product Head at Ashok Leyland Limited, plans to make his company of the decade. For this purpose, he sets objectives, prepares strategies and other action plans keeping the internal as well as external forces in mind so that departments and individuals working in the organization are able to decide what action should be taken and in which direction. Identify the importance of management highlighted in the case.
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question_answer 13)
Name the step in the process of planning which is considered "the real point of decision-making".
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question_answer 14)
Which of the following steps in the process of planning states that the manager is required to make certain assumptions about the future?
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question_answer 15)
"Planning is required at all levels of management as well as in all departments of the organisation. It is not an exclusive function of top management nor of any particular department. But the scope of planning differs at different levels and among different department." Identify the feature/characteristic of planning highlighted above.
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question_answer 16)
To see whether plans are being implemented and activities are being performed according to the schedule, is a step of planning process. Identify the step.
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question_answer 17)
Karim decided to start a chocolates manufacturing business. He set the target of earning 10% profit on sales in the first year. As a good businessman, he was concerned about the future of the business, which was uncertain. He gathered the information that the demand for chocolates is increasing day-by-day. He used this information as the base for future planning and shared it with his team. On the basis of the gathered information, he scheduled a meeting in the following week to find innovative ways to achieve the objectives. Write the first step, which has been followed by Karim that is related to the process of one of the functions of management.
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question_answer 18)
On the introduction of 'Goods and Services Tax Act', experts in the field of business started analysing and forecasting its impact on various sectors and industries. Kanha, an established businessman, attended a few seminars and conferences organised by such experts to familiarise himself with this information. He wanted to use these forecast and conjectures to reduce the uncertainty in making decisions for the future in his business. Name the step in the planning process that is being discussed in the above paragraph.
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question_answer 19)
Having transformed 2,500 Kirana stores across eight cities into virtual super markets, the start-up 'Quick Bizz' further decided in advance, to collaborate with 15,000-20,000 store owners in top 30 cities of the country by the end of this year. Identify the step in the process of one of the functions of management discussed above.
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question_answer 20)
A company wants to increase its market share from the present 10% to 25% to have a dominant position in the market by the end of the next financial year. Ms Rajni, the Sales Manager had been asked to prepare a proposal that will outline the options available for achieving this objective. Her report included the following options. Entering new markets, expanding the product range offered to customers, using sales promotion teachings such as giving rebates, discounts or increasing the budget for advertising activities. Which step of the planning process has been performed by Ms Rajni?
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question_answer 21)
The last step in the process of planning is "Plan Implementation."
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question_answer 22)
"A plan is framed, it is implemented, and is followed by another plan, and so on." Identify the feature/characteristic of planning highlighted above.
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question_answer 23)
"Following a pre-decided plan, when circumstances have changed, it may not turn out to be in the organisations interest." Identify the limitation of planning highlighted above.
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question_answer 24)
"It is not always true that just because a plan has worked before it will work again. Besides, there are so many other unknown factors to be considered. This kind of complacency and false sense of security may actually lead to failure of planning." Identify the limitation of planning highlighted above.
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question_answer 25)
"If the end result is clear it becomes easier to work towards the goal." Identify the step of one of the functions of management highlighted above.
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question_answer 26)
"Accurate forecasts become essential for successful plans." Identify the step of one of the functions of management highlighted above.
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question_answer 27)
"An innovative course may be adopted by involving more people and sharing their ideas." Identify the step of planning function of management highlighted above.
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question_answer 28)
"In financial plans, the risk-return trade-off is very common. The more risky the investment, the higher the returns it is likely to give. To evaluate such proposals, detailed calculations of earnings, earnings per share, interest, taxes, dividends are made and decisions taken." Identify the step of planning function of management highlighted above.
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question_answer 29)
"This is the step where other managerial functions also come into the picture. This step would also involve organising for labour and purchase of machinery." Identify the step of one of the functions of management highlighted above.
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question_answer 30)
Planning is the most challenging activity for the management as ......... .
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question_answer 31)
Sun Pharmacy planned to sell 1 crore 'Covicare' tablets in a year. The company received good response from the market and sold 1.5 crore tablets in a year. Seeing the progress, the company decided to increase sales target to 2 crore tablets in a year. Which major benefit of planning has the company achieved?
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question_answer 32)
Reliable communication limited scans the business environment and adapt itself to the changes in the environment, yet it becomes difficult to foresee the future trends. Which limitation of planning is related to the above statement?
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question_answer 33)
Super Fine Rice Ltd. has the largest share of 55% in the market. The company's policy is to sell only for cash. In 2020, for the first time company's number one position in the industry has been threatened because other companies started selling rice on credit also. But the managers of Super Fine Rice Ltd. continued to rely on its previously tried and tested successful plans which didn't work because the environment is not static. This led to decline in sales of Super Fine Rice Ltd. The above situation is indicating limitation of planning which led to decline in it sales, Identify it.
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question_answer 34)
Ravi was working in a mobile company. It had an assembling unit in Noida. In this assembling unit, standard output of producing 12 units per day per worker had been set. While assembling mobile phones, he realised that by simply reorganizing the sequence of tasks more units can be assembled at a lower cost. He went to his supervisor and informed him about his new discovery. The supervisor, on the contrary, instructed him to carry our work as per the method and techniques decided earlier. Identify this limitation of one of the functions of management.
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question_answer 35)
Sales executive of a 'Swatch Jal Water Purifier' suggested the marketing manager to sell the products with the help of artificial intelligence. He suggested that a pre-recorded message may be sent to the prospective buyers and it will help save time, cost and energy for both ends. The marketing manager liked the idea but suggested him to continue with the strategy the company was already adopting. Which limitation of planning is reflected in the above case?
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question_answer 36)
Mr. Kapil, an educationist found that the teachers have to travel long to attend the workshops and they lose the opportunity to gain the knowledge on updates. He listed various alternatives and finally developed an app which could work on mobile and laptops to launch online sessions. Suggest which next step should he follow?
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question_answer 37)
The Chinese companies launched 'Vivo' and 'Oppo' phones in the Indian market with high end features to tap low segment population of India. It remained successful but later the Indians in order to show patriotism, decided to boycott Chinese products. Which step of planning process, Chinese firms could not perform properly while launching their products?
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question_answer 38)
A sales manager was required to make a forecast of sales post covid19 impact for 4th Quarter of 2020. He considered the sales of 1st Quarter and 3rd Quarter of current year and previous year. He followed ...... step of planning process.
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question_answer 39)
A company wants to increase sales; the alternatives may be reducing prices, improving packaging, offering trade discount, cash discount after sales due to credit sales, free samples etc. Which step of planning process relates with the above examples?
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question_answer 40)
Name the feature of planning which states that planning is a forward looking function.
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question_answer 41)
Match the following.
Column I
Column II
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Specify what an organisation aspires to achieve
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Developing premises
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Planning precedes other functions,
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Mental exercise
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Planning is an intellectual activity
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Goals
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Assumptions about the future.
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Primacy of planning
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question_answer 42)
Planning premises are the actual plans about the future organizational resources.
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question_answer 43)
To see whether plans are being implemented and activities are performed according to schedule is known as ........ .
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question_answer 44)
The business environment is ......... in nature, so planning may not work in such an environment.
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question_answer 45)
Match the following.
Column I Column II A End results (i) Policy B Base to interpret strategy (ii) Method C Do's and Don'ts (iii) Objectives D One step of a procedure (iv) Rules
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question_answer 46)
Identifying alternative courses of action is a step in organising process.
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question_answer 47)
Match the following.
Column I Column II A Anticipate changes (i) Planning B Planning decides in advance how work is to be done (ii) Reduces the risk of uncertainty C Establishes standard for controlling (iii) Promotes innovation D Planning encourages new ideas (iv) Provides directions
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question_answer 48)
............ is a feature of planning and also referred to as primacy of planning.
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