class 12 business studies Planning very important notes
Planning . . .. . Short & Easy Notes for B oard Exam #1. What do you mean by Planning? > Planning is the process of thinking before doing. It involves determination of goals as well as activities to be undertaken to achieve the goals. More specifically planning consist of deciding in advance. It decides beforehand, what is to be done, how is to be done, where is to be done, when is to be done, by whom is to be done. #2. Write the characteristics of good planning. Sitting clear cut objective- the existence of clear cut objectives is necessary for efficient and effective planning. Objectives should not only be understandable but also rational. Economical- the planner must undertakes cost benefit analysis to ensure that the benefits of planning are more than the cost involved in it. Flexibility- some elements of flexibility must be introduced in Planning because modern business operates in an environment which keeps on changing. Dynami...