BUSINESS STUDIES MASTER

 

CHAPTER 4: PLANNING-REVISION NOTES

1. MEANING OF PLANNING

Planning means deciding in advance what to do, how to do it, when to do it and who will do it. It involves setting objectives and choosing the best course of action to achieve them.

Planning = Think Before You Act

2. IMPORTANCE OF PLANNING

Students can remember importance using DRIPES.

Letter	Meaning
D	Direction to employees
R	Reduces risk and uncertainty
I	Improves innovative ideas
P	Promotes decision making
E	Eliminates wasteful activities
S	Sets standards for controlling

3. FEATURES OF PLANNING

Acronym: OPP CDF

Letter	Meaning
O	Objective oriented
P	Primary function of management
P	Pervasive (all levels)
C	Continuous process
D	Decision making
F	Futuristic

4. LIMITATIONS OF PLANNING

Acronym: RUCTS

Letter	Meaning
R	Rigidity
U	Uncertain environment
C	Costly process
T	Time consuming
S	Success not guaranteed

5. STEPS IN PLANNING PROCESS

Acronym: SPACES

Letter	Step
S	Setting objectives
P	Premises (assumptions about future)
A	Alternatives identified
C	Compare / evaluate alternatives
E	Execute the plan
S	See results (follow-up)

6. TYPES OF PLANS

1. Single Use Plans

Used once for a specific objective

Easy Code: PB
P – Programme
B – Budget

2. Standing Plans

Used again and again

Easy Code: PPRM
P – Policy
P – Procedure
R – Rule
M – Method

EASY MEMORY SONG 🎵

“Set the goal,
Think the way,
Choose the best,
Work the plan,
Check the day.”

Meaning: Set → Premises → Alternatives → Execute → Follow-up

10-SECOND EXAM RECALL

Planning	Decide future actions
Importance	DRIPES
Features	OPP CDF
Limitations	RUCTS
Steps	SPACES
Single Use	PB
Standing	PPRM

Unit 4 Revision Series

Prepared by Rathin Kumar Bardhan | CBSE Academic Year 2026-27

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