Planning
Question : Which of the following limitation of planning is highlighted in the below statement? To cope up with the circumstances managers need to be given some flexibility.
Option 1: Planning leads to rigidity.
Option 2: Planning may not work in a dynamic environment.
Option 3: Planning reduces creativity.
Option 4: Planning involves huge cost.
Correct Answer: Planning leads to rigidity.
Solution : Planning helps to achieve specific goals of the organisation. These plans can't be changed as it involves rigidities. To cope up with the circumstances managers need to be given some flexibility. Hence Option A is correct.
Question : Rahul, a worker is given target of assembling two computer per day. Due to his habit of doing things differently, an idea stuck him which would not only reduce the assembling time of computers but would also reduce the cost of production of computer. Rahul's supervisor instead of appreciating him, ordered him to complete the work as per the method and technique decided earlier as nothing could be change at this stage. The above para describes one of the limitation of planning function of management. Name that limitation?
Option 1: Planning reduces creativity
Option 2: Planning may not work in a dynamic environment
Option 3: Planning leads to rigidity
Option 4: Planning is a time consuming process
Correct Answer: Planning reduces creativity
Solution : With the planning, the organization's managers begin to work rigidly and become the plan's only blind follower. The manager takes no initiative to make changes to the plan in response to changes in the business environment. In the above case, Rahul's supervisor instead
Question : Case Study: PQR Enterprises - Funding Strategies for Diversification
PQR Enterprises is a well-established conglomerate planning to diversify its business operations. The company is evaluating various sources of business finance to support its diversification plans.
Questions : Business Finance and Diversification
What is the significance of financial planning for PQR Enterprises in the context of diversification?
Option 1: To maximize short-term profits
Option 2: To ensure regulatory compliance
Option 3: To select the best employees
Option 4: To allocate funds for new ventures effectively
Correct Answer: To allocate funds for new ventures effectively
Solution : The correct answer is (d) To allocate funds for new ventures effectively
Financial planning is essential for diversification as it involves assessing the financial requirements of entering new business areas, determining the amount of funding needed, and devising a
Question : Case Study: LMN Ventures - Financing Innovation and Research
LMN Ventures is a research-driven technology company aiming to innovate and develop cutting-edge products. The company is exploring various sources of business finance to support its research and development endeavors.
Questions : Business Finance and Research
How does financial planning impact LMN Ventures' research and development goals?
Option 1: It determines employee training strategies
Option 2: It focuses on reducing company workforce
Option 3: It allocates funds effectively for innovation projects
Option 4: It analyzes market trends for new products
Correct Answer: It allocates funds effectively for innovation projects
Solution : The correct answer is (c) It allocates funds effectively for innovation projects
Financial planning plays a crucial role in guiding LMN Ventures' research and development (R&D) goals by effectively allocating funds for innovation projects. Proper financial planning ensures that
Question : Recruitment,selection, training, and development of employees are the processes of which function of management?
Option 1: Planning,
Option 2: Staffing,
Option 3: Controlling
Option 4: Specialisation
Correct Answer: Staffing,
Solution : Recruitment, selection, training, and development of employees are the processes of staffing. Staffing is the managerial function of hiring and developing the required employees to fill in various positions created by the organising process. This function is concerned with finding the right person for the
Question : The functions of management are:
Option 1: Planning, organizing, directing, and controlling
Option 2: Planning, directing, coordinating, and evaluating
Option 3: Planning, organizing, staffing, directing and controlling
Option 4: Planning, directing, delegating, and supervising
Correct Answer: Planning, organizing, staffing, directing and controlling
Solution : The correct answer is (c) Planning, organizing, staffing, directing, and controlling.
The functions of management are commonly recognized as planning, organizing, staffing, directing, and controlling. These functions represent the key activities that managers perform to effectively run an organization.
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Question : Questions : Business Finance and Its Meaning
Statement 1: Financial planning plays a vital role in allocating funds optimally.
Statement 2: Financial planning focuses solely on marketing and sales strategies.
Option 1: Statement 1 is true, and statement 2 is false.
Option 2: Statement 1 is false, and statement 2 is true.
Option 3: Both statements 1 and 2 are true.
Option 4: Both statements 1 and 2 are false.
Correct Answer: Statement 1 is true, and statement 2 is false.
Solution : The correct answer is (a) Statement 1 is true, and statement 2 is false.
Statement 1 is true. Financial planning plays a vital role in allocating funds optimally across various activities and departments within a business. It
Question : Which one of the following sequence of process of management is correct?
Option 1: Planning, Controlling, Organising, Staffing
Option 2: Staffing, Planning, Organising, Controlling
Option 3: Planning, Organising, Staffing, Controlling
Option 4: Organising, Planning, Staffing, Controlling
Correct Answer: Planning, Organising, Staffing, Controlling
Solution : Planning, Organising, Staffing, Controlling Management functions in this process.
Hence, Option C is correct.
Question : Assertion-Reason Questions: Chapter - Sources of Business Finance
Questions : Business Finance and Its Meaning
Assertion: Need for business finance arises due to various uncertainties and risks associated with business activities.
Reason: Financial planning eliminates all forms of business risk and uncertainties.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: Assertion is true, but the reason is false.
Option 4: Both assertion and reason are false.
Correct Answer: Assertion is true, but the reason is false.
Solution : The correct answer is (c) Assertion is true, but the reason is false.
The assertion is true. Businesses face uncertainties and risks regularly, such as market fluctuations, economic changes, competition, and other variables. Business finance is needed to
Statement 1: Financial planning contributes to maximizing shareholder wealth and company value.
Statement 2: Financial planning does not consider the interests of stakeholders.
Statement 1 is true. Financial planning is designed to contribute to maximizing shareholder wealth and company value. Through effective financial planning, a company
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