Class 12 Business Studies — Chapter 4: Planning

What you'll learn

• ▸Concept and Definition of Planning
• ▸Importance of Planning: Provides Direction
• ▸Importance of Planning: Reduces the Risk of Uncertainty
• ▸Importance of Planning: Reduces Overlapping and Wasteful Activities
• ▸Importance of Planning: Promotes Innovative Ideas
• ▸Importance of Planning: Facilitates Decision Making
• ▸Importance of Planning: Establishes Standards for Controlling

Chapter Summary

--- PAGE 1 --- 4 CHAPTER Planning IOCL: Fuelling Sustainable Future Indian Oil, a Maharatna PSU, is India's foremost integrated energy conglomerate. As a leader, the company dedicates itself to delivering sustainable and affordable energy solutions that shape India's energy landscape through planned diversification into alternative energy sources and innovation for the global community. This story of success is not written in 'Letters of Gold' but in 'Green,' as the company escalates its goal of achieving net zero operational emissions by the year 2046. To realize this vision, the company plans to undertake an investment of 2 lakh crore. The company envisions economic development by implementing sustainable practices in line with achieving net zero emissions and rolling out plans for a renewable and green energy ecosystem in the country. In the spirit of sustainable planning, IOCL has begun waste management strategies by enhancing recycling efforts and ensuring the reduction of envir…

Practice Questions from this Chapter

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1. Explain corporate planning simply. Get Solution →
2. Give real-world planning examples. Get Solution →
3. Define net-zero emissions. Get Solution →
4. What is the fundamental concept of planning according to the text? Get Solution →
5. What major environmental goal does Indian Oil Company Limited (IOCL) plan to achieve by 2046? Get Solution →
6. Which function of management is referred to as having 'primacy' because it lays down the base for all other functions? Get Solution →
7. According to the feature of 'pervasiveness', planning is required at which levels of an organization? Get Solution →
8. Planning establishes the standards against which what is measured? Get Solution →

Did you know?

• 💡 Ancient Egyptians planned the pyramids for decades before construction began.
• 💡 Squirrels plan ahead by burying thousands of nuts they might forget.
• 💡 A chess grandmaster can plan up to 20 moves ahead in a game.
• 💡 Recycling one aluminum can saves enough energy to power a TV for three hours.
• 💡 The oldest tree, over 5,000 years old, has witnessed millennia of change.

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