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Question : Sales forecasting is the basis on which a business firm prepares its annual plan for production and sales which feature of planning is highlighted in the above case?

Option 1: Planning focuses on achieving objectives

Option 2: Planning is continuous 

Option 3: Planning is primary function of management 

Option 4: Planning is futuristic


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: Planning is futuristic


Solution : Planning always means looking ahead or planning is a futuristic function. Planning is never done for the past. All the manager try to make prediction and assumption for future.
In the above case, Sales forecasting is the basis on which a business firm prepares its annual plan for production and sales. Planning is futuristic or forward looking feature is highlighted.
Hence, option 4 is the correct answer.

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