30 Questions
What is the purpose of setting goals and benchmarks in a business firm?
To provide a benchmark for achieving objectives.
Define the term 'Purposes or Missions' in the context of business planning.
Purposes or missions define the reason for the establishment of an organization.
What is the significance of identifying defects in the existing plan of a business firm?
To forecast future developments and improve the existing plan.
What is the role of 'Programmes' in the hierarchy of plans within an organization?
Programmes involve preparing various alternative plans within existing resources.
Explain the importance of developing means to evaluate progress in the planning process.
It allows for readjusting one's sights as the planning process moves along.
What is the primary focus of the mission of a business organization?
To fulfill the purpose of establishment and serve the customers' expectations.
What is the definition of strategy according to Chandlar?
The determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary to carry out these goals.
How are policies helpful in organizations?
Policies guide decision-making to ensure consistency with organizational objectives.
Give an example of a policy mentioned in the text.
One business unit instituted a policy that the general manager must approve all purchases totaling Rs. 500 or more.
What is the purpose of setting procedures in organizations?
Procedures provide step-by-step guidance for specific activities or functions, especially for routine and recurring tasks.
How do strategies differ from policies?
Strategies focus on long-term goals and resource allocation, while policies guide decision-making and ensure consistency.
Why is it important for employees to adhere to policies in an organization?
Adhering to policies ensures that decisions align with organizational objectives and maintain consistency.
What is the full production period?
The time during which the beneficiaries start reaping the benefits of the project.
Why is monitoring important in a project?
To identify constraints that impede successful implementation and to address problems faced during the project.
What is the purpose of evaluation in the project cycle?
To assess how far the objectives set out in the project are achieved.
What are the three phases of the evaluation process?
Pre-project evaluation, concurrent evaluation, and ex-post evaluation.
When should evaluation be attempted in the project cycle?
Before any change occurs in the existing situation, during the pre-project evaluation phase.
Why is it important to continuously monitor a project?
To offset various shortcomings that may arise during implementation and to ensure successful project completion.
What are the steps to be followed to set up agro based industries?
Assessment of agricultural resource potential, qualification of agriculture output and inputs, present utilization of resources, agricultural produce preserving requirements, selection of important items, preparation of industrial studies, identification of entrepreneurs, technology suggestion and training, addressing finance and marketing issues.
What are some constraints in establishing agro based industries?
Lack of proper guidance, risk-taking element, changes in crops or cropping patterns, technological improvements leading to variety changes, raw material supply disruption due to monsoon failures, lack of guidance for modern agro-industries, and finance scarcity for capital-intensive modern small industries.
Why is processing necessary even for local consumption of food grains?
Processing is necessary for local consumption of food grains to ensure preservation, quality enhancement, and value addition.
Why is the identification of entrepreneurs crucial in setting up agro based industries?
Identification of entrepreneurs is crucial as they drive the innovation, management, and growth of the industry, bringing in expertise and leadership.
What aspects should be considered for working out repayment capacity?
Commercial, managerial, organisational, social, economic aspects
How can the wastage of resources be minimized in the location of agro based units?
Wastage of resources can be minimized by following a strategic approach in selecting the location of the units, leveraging existing infrastructure, and ensuring efficient resource utilization.
What does the cash flow chart help in when determining repayment capacity?
Profitably used in working out repayment capacity
Why is marketing assistance important for agro based industries?
Marketing assistance is crucial for agro based industries to reach a wider market, promote products effectively, and ensure sustainable profitability.
What does the commercial aspect focus on?
Estimation of effective demand, availability of input supplies, and output marketing arrangements
Why are effective managerial issues crucial for successful project implementation?
To ensure successful project implementation
What does the organisational aspect refer to?
Process of putting priorities in an orderly form
What social aspects are considered in project evaluation?
Customs, culture, traditions, habits of beneficiaries
Learn about strategies in business, including the determination of long-term goals and allocation of resources to achieve these goals. Explore examples such as Tata's strategy with the Nano car.
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