ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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past and present position
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past and future position
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Present and future position
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Only future
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Detailed explanation-1: -Ans. Planning seeks to bridge the gap between where we are and where we want to go. It involves setting objectives and targets and formulating an action plan to achieve them.
Detailed explanation-2: -Planning is the most basic function of management. It is deciding in advance what to do and how to do when to do and by whom it is to be done. It bridges the gap between where we are and where we want to go.
Detailed explanation-3: -Planning is an intellectual exercise. It is practiced at all the levels of management. It bridges the gap between present (where we are) and future(where we want to go), by setting objectives, allocating resources and determining a course of action to achieve predetermined goals. It helps to minimise the risk.
Detailed explanation-4: -Planning refers to “deciding in advance what to do, how to do, when to do, and who is going to do it. Planning bridges the gap between where we stand today and where we want to reach”. Every manager starts with deciding in advance the objectives of an enterprise and how to accomplish these objectives.