Grade 12 Exam > Grade 12 Videos > Business Studies for Grade 12 > Planning: An Overview
Planning: An Overview Video Lecture | Business Studies for Grade 12
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FAQs on Planning: An Overview Video Lecture - Business Studies for Grade 12
| 1. What is planning in commerce? |  |
Ans. Planning in commerce is the process of setting goals, identifying resources, and determining the actions required to achieve those goals. It is a crucial function in any organization as it helps in achieving the desired results efficiently and effectively.
| 2. What are the steps involved in the planning process? | |
Ans. The steps involved in the planning process are:
1. Defining the objective
2. Identifying the resources
3. Developing alternative courses of action
4. Evaluating the alternatives
5. Selecting the best alternative
6. Implementing the plan
7. Monitoring and controlling the plan
| 3. Why is planning important in commerce? | |
Ans. Planning is important in commerce because it helps organizations to achieve their objectives efficiently and effectively. It enables organizations to identify potential opportunities and threats, prioritize their actions, allocate resources effectively, and minimize the risks associated with the business operations.
| 4. What are the benefits of planning in commerce? | |
Ans. The benefits of planning in commerce are:
1. Helps in achieving the desired results efficiently and effectively
2. Enables organizations to identify potential opportunities and threats
3. Prioritizes actions and allocates resources effectively
4. Minimizes the risks associated with the business operations
5. Provides a framework for decision making
| 5. What are the limitations of planning in commerce? | |
Ans. The limitations of planning in commerce are:
1. Planning is based on assumptions, which may not hold true in the future
2. The planning process can be time-consuming and costly
3. Planning may not be able to account for unexpected events or changes in the business environment
4. The implementation of the plan may be hindered by internal or external factors beyond the control of the organization.
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Oct 24, 2024 Last updated |
Video Description: Planning: An Overview for Grade 12 2024 is part of Business Studies for Grade 12 preparation.
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