Business Studies

Planning

Easy

Identify the type of plan which provides the prescribed ways or manner in which a task has to be performed considering the objective.

Rules

Strategies

Method

Procedures

✅ Correct Option: 3

Option 1 -> Rules are specific statements that define what can or cannot be done, but they don't prescribe the manner or way of performing a task.

Option 2 -> Strategies are comprehensive plans that determine the overall direction and long-term objectives of an organization, not the specific manner of task execution.

Option 3 -> Methods are standardized ways that prescribe the exact manner in which a specific task should be performed to achieve the objective efficiently.

Option 4 -> Procedures are chronological sequences of steps to be followed, focusing more on the order of actions rather than the specific manner of performing a task.

Hence, Option 3: Method -> Methods provide the prescribed ways or manner in which a task has to be performed considering the objective. They describe the specific techniques and systematic approaches for accomplishing a particular task in the most efficient way. -> correct

2022: 17 Aug Shift 1

Aren has completed his studies and now wants to start his own business. He has undertaken the given steps in the planning process. Rearrange them to create the correct process of planning.

A. He has forecasted the demand of his products, interest rate, price of capital goods, tax rate

B. Aren decides to produce in bulk to reduce cost of production

C. Aren found out that increasing price and reducing quality will reduce his customers, but producing in bulk will increase customers

D. Aren sets an objective to earn 20% profit in the first year of business

E. To achieve the target, Aren can reduce price of product or reduce quality of raw material or produce in bulk to reduce cost of production.

Choose the correct answer from the options given below:

2024

Policy formation serves as the basis of coordinating the activities and efforts of different divisions, departments and individuals. It helps in avoiding confusion and misunderstanding.' Identify the significance of managerial function highlighted in this statement.

2025: 14 May Shift 2

Match List-I with List-II

List-I	List-II
Types of plan	Description
(A) Policies	(I) General statement or understanding that guides thinking in decision-making.
(B) Rules	(II) Detailed statement about a project.
(C) Procedures	(III) Pre-determined decision which has to be applied in special circumstances.
(D) Programme	(IV) Exact way of doing work

Choose the correct answer from the options given below:

2026: 21 May Shift 1

"Planning is an activity which is done by the top management. Usually, the rest of the members just implement these plans."

The limitation of Planning stated above is related to:

2026: 21 May Shift 1

Arrange the steps in the planning process in a logical sequence

(A) Follow-up action

(B) Setting objectives

(D) Developing premises

Choose the correct answer from the options given below:

2025: 3 June Shift 1

Which of the following is related to the benefits of Planning?

(A) Planning provides directions

(B) Planning ensures certainty

(D) Planning facilitates decision making

Choose the correct answer from the options given below:

Identify the type of plan which provides the prescribed ways or manner in which a task has to be performed considering the objective.

Solution

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