Q1. [2] § 8.1 Corporate Actions
"A business plan serves as a guide to determine the business objectives and the course of action. It helps to detail the "what, when, how and who" of doing every specific tasks." Describe this managerial function of entrepreneurs.
Previously asked in CBSE board exam
2023 92 Q10
Generated by claude-sonnet-4-6 · 2026-06-15 07:07 · grounding rag
Model Answer
The managerial function described here is Planning.
Planning involves setting business objectives and deciding the course of action to achieve them. An entrepreneur uses a business plan to determine what tasks need to be done, when and how they will be executed, and who will be responsible for each task. It acts as a roadmap for the business.
Explanation
The question describes the classic definition of the planning function of management. Examiners expect you to:
- Correctly name the function — Planning.
- Briefly explain it using the keywords from the question itself: objectives, course of action, what/when/how/who.
Do not confuse this with organising (which deals with arranging resources). The business plan is the tool of planning. Stick to 2–3 sentences since it is a 2-mark question.
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cbse.gov.in.