Question : Sales forecasting is the basis on which a business firm prepares its annual plan for production and sales which feature of planning is highlighted in the above case?
Option 1: Planning focuses on achieving objectives
Option 2: Planning is continuous
Option 3: Planning is primary function of management
Option 4: Planning is futuristic
Correct Answer: Planning is futuristic
Solution :
Planning always means looking ahead or planning is a futuristic function. Planning is never done for the past. All the manager try to make prediction and assumption for future.
In the above case, Sales forecasting is the basis on which a business firm prepares its annual plan for production and sales. Planning is futuristic or forward looking feature is highlighted.
Hence, option 4 is the correct answer.
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