Planning is the chapter that teaches students the importance of business planning. These are the concepts covered in this chapter for the purpose of revision – meaning and definition of planning, importance of planning – planning provides directions, it reduces the risk uncertainty, helps in promotion of innovative ideas, features of planning – it focuses on achieving objective, planning is pervasive and continuous, it is futuristic, decision making plays a vital role in planning, limitations of planning, planning process, types of plans. These are a few important pointers that the students can revise.
Frequently asked Questions on CBSE Class 12 Business Studies Notes Chapter 4: Planning
What are the types of planning?
1. Operational Planning2. Strategic Planning3. Tactical Planning4. Contingency Planning
What is the importance of planning?
Planning provides the directions to the efforts of employees. Planning makes clear what employees have to do, how to do, etc. By stating in advance how work has to be done, planning provides direction for action.
What is ‘Decision making’?
Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.