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Class 12 Business Studies Chapter 4 Planning Quiz 2 (60 MCQs)

Quiz Instructions

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1. In which step of planning process The best and non feasible plan will be choosen to be implemented.
2. Assertion (A):Planning reduces overlapping and wasteful activities. Reason (R):Departmental plans have nothing to do with the main organisational plan.
3. What is a 'value proposition'?
4. What is the cost of making each product or providing each hour of service?
5. ..... oversee the day-to-day operations of respective functional areas during ERP implementation.
6. Benjamin is tasked with ensuring that his team effectively utilizes all available resources and coordinates their activities to achieve the project's objectives.
7. What is a 'business model'?
8. The planning acronym DECIDE helps in the ..... processes.
9. Sarah is tasked with creating a detailed plan to meet the project goals by analyzing information, setting timelines, and making decisions.
10. Emma is a project manager at a tech company. She needs to develop a comprehensive plan for the upcoming year. Name 3 different types of Planning that she should consider.
11. Keeping track of what goods are profitable and eliminating ones that aren't.
12. What does 'KPIs' stand for in business terminology?
13. Assertion (A):Rules are usually the simplest type of plans. Reason (R):Because there is no compromise or change unless a policy decision is taken.
14. Statement I:If there was no planning, employees would be working in different directions and the organisation would not be able to achieve its desired goals. Statement II:Planning cannot eliminate but only anticipate changes an uncertain events.
15. Statement I:Single-use and standing plans are part of the operational planning process. Statement II:Strategy is neither a single-use plan nor a standing plan.
16. Planning is concerned with how objectives are to be accomplished, not what is to be accomplished
17. Planning involves decision Making
18. What are the three main components of a business description?
19. Statement I:Procedures provide the manner in which a task has to be performed. Statement II:Rules are very clearly stated as to exactly what has to be done like reporting for work at a particular time.
20. What is the chain of command?
21. Which one of the following is not an element of planning:
22. Material Requirement Planning(MRP) utilizes software applications for scheduling .....
23. Efficiency may be defined as:
24. A written description of a business venture that describes all aspects of the business is called
25. How much will you make on each sale after you subtract your expenses is called:
26. Which analysis is included in a marketing plan to understand the market segment you are targeting?
27. Taking corrective action when a plan goes wrong.
28. What does SWOT stand for in situational analysis?
29. Google have ask to employees to work from home till July 2021 this is an example of
30. Assertion (A):Planning leads to Unity of Direction. Reason (R):Employees know in advance in which direction they have to work.
31. What does the 'T' in SMART goal format stand for?
32. A manager assigns a section of tables for each of his servers to wait on.
33. Which of the following is NOT a component of a marketing plan as mentioned in the document?
34. Which of the following best describes a business plan? A written document that describes:
35. What is the primary objective of cost planning?
36. Assertion (A):Planning is futuristic. Reason (R):Planning is regarded as a forward looking function based on forecasting.
37. In which section of the business plan would you expect to find details about market size and market research?
38. Statement I:Rules are guides to managerial action and decisions in the implementation of strategy. Statement II:Policies define the broad parameters within which a manager may function.
39. Which term refers to the potential customers for a product or service?
40. In which of the following situations is a business plan considered to be unessessary
41. Which of the following is NOT a form of ownership mentioned in the Organizational Plan?
42. A CEO sets a goal of increasing sales by 10 percent in the next year by developing a new software program.
43. What is accountability?
44. Effectiveness is best described as:
45. A companies core beliefs is its
46. Which of the following is a disadvantage of a corporation?
47. Which of the following goals is the most specific?
48. How should you set the price of your product or service?
49. At what managerial level planning is needed?
50. Which of the following is considered when creating a financial plan according to the document?
51. The use of technology lowers the cost of production
52. Assertion-Planning is pervasiveReason-Planning is not required at all levels of management as well as in all departments of organization
53. Which of the following sections of a business plan comes first but should be written last?
54. ERP system is for .....
55. Assertion(A):After deciding the objectives, making a list of alternatives through which an organisation can achieve its goals is also important. Reason(R):There can be various ways to achieve the same objectives and managers must know all of them.
56. In which step of planning process pros and cons of each Alternative is examined .
57. What is the term for a company's long-term plan for how it will balance its internal strengths and weaknesses with external opportunities and threats?
58. Assertion (A):Planning requires wishful thinking. Reason (R):Planning is basically an intellectual activity of thinking rather than doing, because planning determines the action to be taken.
59. What aspect of a marketing plan involves understanding the cost of your offerings?
60. What is one of the tax-related advantages of a partnership compared to corporations?
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