Planning Quiz-1

Planning Quiz-1

Quiz

 

1. Sulochna Maliwal is working as the Production Manager in the ‘Rakshit Medicines Pvt. Ltd.’ She is to prepare the Production Budget for the calendar year 1.1.2020 to 31.12.2020. While preparing the budget for her department, she considered it proper to mainly keep in view the Corona virus spreading world-wide. Keeping this fact in mind, in the beginning months, in order to face the virus, she gave preference to preparing the necessary material rather than the other items. Due to the planning done in this manner, the company got a big success. Which particular point of importance of planning do you learn about from the event described above?
   1.   Planning provides direction.
   2.   Planning reduces the risk of uncertainty.
   3.   Planning reduces overlapping and wasteful activities.
   4.   Planning promotes innovative ideas
2. Assertion (A) : Middle management and other decision makers are neither allowed to deviate from the plan nor they are permitted to act on their own.
   Reason(R) : Planning in a way reduces creativity since people tend to think along the same lines as others
   1.   Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
   2.   Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
   3.   Assertion (A) is true but Reason(R) is false
   4.   Assertion (A) is false but Reason(R) is true
3. Assertion (A) : Sales forecast is the basis on which a business firm prepares its annual plan for production and sales
   Reason(R) : Planning is the primary function of management
   1.   Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
   2.   Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
   3.   Assertion (A) is true but Reason(R) is false
   4.   Assertion (A) is false but Reason(R) is true
4. Assertion (A) : Planning may not work in a dynamic environment
   Reason (R) : Planning cannot foresee everything and thus, there may be obstacles to effective planning.
   1.   Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
   2.   Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
   3.   Assertion (A) is true but Reason(R) is false
   4.   Assertion (A) is false but Reason(R) is true
5. Name the function of management which bridges the gap between where we are and where we want to go.
   1.   Planning
   2.   Staffing
   3.   Organising
   4.   Directing
6. Assertion (A) : Planning is pervasive
   Reason (R) : It is an exclusive function of top management or of some particular department or manager.
   1.   Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
   2.   Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
   3.   Assertion (A) is true but Reason(R) is false
   4.   Assertion (A) is false but Reason(R) is true
7. End results towards which all the activities are directed is called
   1.   Policy
   2.   Strategy
   3.   Budget
   4.   Objective
8. Name the step in the process of planning which is considered “the real point of decision making”.
   1.   Setting objectives
   2.   Developing premises
   3.   Evaluating alternatives
   4.   Selecting the best alternative
9. Assertion (A) : Monitoring the plan is equally important to ensure that objectives are achieved.
   Reason(R) : To see whether plans are being implemented and activities are performed according to schedule is also part of planning process.
   1.   Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
   2.   Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
   3.   Assertion (A) is true but Reason(R) is false
   4.   Assertion (A) is false but Reason(R) is true
10. ‘All-in-one Ltd.’ is such a company as makes available goods and services of all types to the customers at cheap rates. It is the first company of its own type, which established it five years ago. The company, first of all, began its business in the North India. For the people of this region, it proved to be a blessing. Getting influenced by its success, now several companies of this type have got established. The business environment is completely in favour of this company. Taking advantage of this fact, the company laid down its objective of leadership to be established in the market. For the achievement of this objective, along with the North India, the company has decided to open its office in the South India also. Hence, the company is going to expand its business. To which type of plan is the above event related?
    1.   Strategy
    2.   Policy
    3.   Procedure
    4.   Method
11. “Following a pre-determined plan, when circumstances have changed, it may not turn out to be in the organization’s interest.” Identify the limitation of planning highlighted above.
    1.   planning leads to rigidity
    2.   planning may not work in the dynamic environment
    3.   planning does not guarantee success
    4.   planning reduces creativity
12. Rahul, sales executive of mankind Pharma ltd. Put forth the idea of using artificial intelligence in the marketing of its products which will help in saving time, cost and energy for both ends. The marketing manager appreciated him but suggested to continue with the already developed marketing strategy. which limitation of planning is reflected in the above case.
    1.   Planning is time consuming
    2.   Planning reduces creativity
    3.   Planning leads to rigidity
    4.   Planning does not guarantee success
13. Which of the following steps in the process of planning states that the managers are required to make some assumptions about the future?
    1.   Setting objectives
    2.   Developing premises
    3.   Identifying the alternative course of action
    4.   Implementation of plan
14. ‘Hitkari Products Pvt. Ltd.’ is a well-known company of its own type of industry. Today, the company’s position is this that if by the name of ‘Hitkari’ it launches any product in the market, the possibility of its success is 100%. Keeping in mind the fame of its brand, the company decided for the increase in its sales by 20%. The company has full belief that its decision will turn out to be 100% correct. The information of this decision was communicated to all the concerned officials, so that they should plan their activities on the basis of this decision. Identify the ‘type of planning’ conveyed by the above event.
    1.   Objective
    2.   Strategy
    3.   Policy
    4.   Budget
15. Assertion (A) : Planning leads to rigidity.
    Reason(R) : The well-defined plan already drawn decide the future course of action and managers may not be in a position to change it.
    1.   Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
    2.   Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
    3.   Assertion (A) is true but Reason(R) is false
    4.   Assertion (A) is false but Reason(R) is true
16. Arrange the following in correct sequential order.
    i. Identifying alternatives
    ii. Selecting an alternative
    iii. Setting up of objectives
    iv. Implementation of plan
    v. Developing premises
    vi. Evaluating the alternatives
    vii. Follow up action
    1.   (iii)(ii)(vi)(v)(iv)(vii)
    2.   (iii)(v)(i)(vi)(ii)(iv)(vii)
    3.   (iii)(i)(ii)(vi)(v)(iv)(vii)
    4.   (iii)(v)(i)(vi)(ii)(vii)(iv)
17. “If the end result is clear it becomes easier to work towards the goal.” Identify the step of one of the functions of management highlighted above.
    1.   Developing premises
    2.   Implementation of plan
    3.   Follow up action
    4.   Setting of objectives
18. Mr. Narayan is working against the post of C.E.O. in ‘Lav Udyog Ltd.’ He called a meeting of the top-level officials. In the meeting, important decisions regarding theemployees’ training were taken, which were as follows: For the employees working atthe supervisory level, on-the job training shall be followed; but for the top-level and middle-level employees, seminars and lectures shall be organised. To which ‘type of plan’ the decisions taken by Mr Narayan are related in the above event?
    1.   Procedure
    2.   Strategy
    3.   Method
    4.   Rule
19. Assertion (A):The various functions of planning are inter related, however planning provides the basis of all other functions.
    Reason (R) : Planning is a continuous activity
    1.   Both Assertion (A) and Reason(R) are true and Reason (R) is correct explanation of Assertion (A)
    2.   Both Assertion (A) and Reason(R) are true but Reason (R) is not the correct explanation of Assertion (A)
    3.   Assertion (A) is true but Reason(R) is false
    4.   Assertion (A) is false but Reason(R) is true
20. Changes and events cannot be eliminated but can be anticipated and managerial response to them can be developed. Which importance of planning is highlighted in the above statement.
    1.   Planning provides direction
    2.   Planning reduces overlapping and wasteful activities
    3.   Planning reduces the risk of uncertainty
    4.   It facilitates decision making