Solution of Chapter 4. Planning (NCERT - Business Studies Part-I Book)

How does planning provide direction?

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 has 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 techniques such as giving rebates, discounts or increasing the budget for advertising activities. Which step of the planning process has been performed by Ms. Rajni?

Why are rules considered to be plans?

Rama Stationery Mart has made a decision to make all the payments by e-transfers only. Identify the type of plan adopted by Rama Stationery Mart.

Can planning work in a changing environment? Give a reason to justify your answer.

What are the main aspects of the definition of planning?

If planning involves working out details for the future, why does it not ensure success?

What kind of strategic decisions are taken by business organizations?

Planning reduces creativity. Critically comment.(Hint: both the points - Planning promotes innovative ideas and planning reduces creativity – will be given).

In an attempt to cope with Reliance Jio’s onslaught in 2018, market leader Bharti Airtel has refreshed its Rs 149 prepaid plan to offer 2 GB of 3G/4G data per day, twice the amount it offered earlier. Name the type of plan is highlighted in the given example. ? State its three dimensions also.

State the type of plan and state whether they are Single-use or Standing plan:

a. A type of plan which serves as a controlling device as well. (budget)

b. A plan based on research and analysis and is concerned with physical and technical tasks. (Method)

Why is it that organizations are not always able to accomplish all their objectives?

What are the steps taken by management in the planning process?

An auto company C Ltd. is facing a problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower-priced models for mass consumers who are price sensitive. C Ltd. realized that it needs to take steps immediately to improve its market standing in the future. For quality-conscious consumers, C Limited plans to introduce new models with added features and new technological advancements. The company has formed a team with representatives from all the levels of management. This team will brainstorm and will determine the steps that will be adopted by the organisation for implementing the above strategy. Explain the features of Planning highlighted in the situation given below.(Hint: Planning is pervasive, Planning is futuristic and Planning is a mental exercise)