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An auto company C Ltd. is facing a problem of declining market share d...

An auto company C Ltd. is facing a probl | Class 12 Business Studies Chapter Planning, Planning NCERT Solutions

Welcome to the NCERT Solutions for Class 12 Business Studies - Chapter Planning. This page offers a step-by-step solution to the specific question from Exercise 3, Question 3: . With detailed answers and explanations for each chapter, students can strengthen their understanding and prepare confidently for exams. Ideal for CBSE and other board students, this resource will simplify your study experience.

Question 3:

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).

Answer:

The features of planning highlighted in the above case are:

1. Planning is pervasive: Planning is required at all levels of management as well as in all departments of the organization. It is not a function restricted to top level but it is performed by managers at every level. Where the top level management forms organizational plans, the middle level does departmental planning, and the lower level makes plans for the day-to-day working or the organization.

2) Planning is futuristic: Planning is based on forecasting and it is prepared for the future. The main purpose of planning is to meet future events effectively to the best advantage of an organization. It implies looking into the future, analyzing it and predicating it. Thus planning is a futuristic process.

3. Planning is a mental exercise: Planning is a mental exercise as it requires creativity, imagination and higher thinking skills with sound judgement. It is an intellectual activity of thinking. It requires logical and systematic thinking rather than guesswork or wishful thinking.

Other Questions of Chapter Planning

Why are rules considered to be plans?

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

Mention one limitation of planning.

Explain the various types of plans used in management.

What is the importance of setting objectives in the planning process?

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

What kind of strategic decisions are taken by business organisations?

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.

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

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

Popular questions of class 12 Business Studies

Why is management considered to be a multi-dimensional concept?

Explain the procedure for selection of employees.

Indian Railways has launched a new broad gauge solar power train which is going to be a path breaking leap towards making trains greener and more environment friendly. The solar power DEMU (Diesel Electric Multiple Unit) has 6 trailer coaches and is expected to save about 21,000 liters of diesel and ensure a cost saving of Rs 12, 00,000 per year. Name the objectives of management achieved by Indian Railways in the above case.

The government of India announced Demonetization of ₹ 500 and ₹ 1,000 currency notes with effect from the midnight of November 8, 2016. As a result, the existing ₹ 500 and ₹ 1,000 currency notes ceased to be legal tender from that date. New currency notes of the denomination of ₹ 500 and ₹ 2,000 were issued by Reserve Bank of India after the announcement.

This step resulted in a substantial increase in the awareness about and use of Point of Sale machines, e-wallets, digital cash and other modes of cashless transactions. Also, increased transparency in monetary transactions and disclosure led to a rise in government revenue in the form of tax collection.

a. Enumerate the dimensions of the business environment highlighted above.
b. State the features of Demonetization.

How would you characterize the business environment? Explain with examples, the difference between general and specific environment.

Discuss the relevance of Taylor and Fayol’s contribution in the contemporary business environment.

Define scientific management. State any three of its principles.

Explain the qualities of a good leader? Do the qualities alone ensure leadership success?

National Digital Library of India (NDL India) is a pilot project initiated by the HRD ministry. It works towards developing a framework of virtual repository of learning resources with a single-window search facility. It provides support to all academic levels including researchers, life-long learners and differently-abled learners free of cost. State the dimensions of business environment highlighted above.

Management is a series of continuous interrelated functions. Comment.

Recently Viewed Questions of Class 12 Business Studies

What is the role of NGOs in Consumer Protection?

Why is understanding the business environment crucial for managers?

Discuss the role of SEBI in regulating the financial markets in India.

What is the role of the Central Consumer Protection Authority (CCPA)?

A company manufacturing sewing machines set up in 1945 by the British promoters follows formal organisation culture in totality. It is facing lot of problems in delays in decision making. As the result it is not able to adapt to changing business environment. The work force is also not motivated since they cannot vent their grievances except through formal channels, which involve red tape. Employee turnover is high. Its market share is also declining due to changed circumstances and business environment. You are to advise the company with regard to change it should bring about in its organisation structure to overcome the problems faced by it. Give reasons in terms of benefits it will derive from the changes suggested by you.

State the different networks of grapevine communications.

Kaul Consultants have launched www.naukaripao.com exclusively for senior management professionals. The portal lists out senior level jobs and ensures that the job is genuine through rigorous screening process.

a. State the source of recruitment highlighted in the case above.
b. State four benefits of the above identified source of recruitment.

Can a large sized organisation be totally centralised of decentralised? Give your opinion.

Explain how management is both an art and a science.

What is the meaning of organizing in management?

Study Tips for Answering NCERT Questions:

NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:

Read the question carefully and focus on the core concept being asked.
Reference examples and data from the chapter when answering questions about Planning.
Review previous year question papers to get an idea of how such questions may be framed in exams.
Practice answering questions within the time limit to improve your speed and accuracy.
Discuss your answers with your teachers or peers to get feedback and improve your understanding.

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