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Q: A planning budget is prepared before the period begins and is valid for only the planned level of activity true or false?
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Why is it important to assess one self before venturing into an entrepreneurial activity?

It is important to assess one self before venturing into an entrepreneurial activity, because an entrepreneurial activity's outcome often depends on the decisions of the people behind them. Henceforth, not everybody is automatically suited to be involved in an entrepreneurial activity, just like not everyone is suited to other kinds of activities like mountain climbing or being a leader. Becoming an entrepreneur requires preparation and it is important to know yourself before your next project.


What are economic factors influencing educational planning?

There are many economic factors influencing educational planning. One factor is whether or not people can afford to send their children to private schools before college.


What is planned maintenance?

"That board is broken. Let's fix it next week." It is maintenance (trying to maintain the condition of an article). It is corrective (fixing something already broken rather than replacing it before it breaks). It is planned (the action has been set for a specific future date).


Why planning is improved for productivity improvement?

Planning is a process of setting up of definite goals and objectives to accomplish a project or mission. It is a blueprint of an enterprise that one intends to take on measurable basis. Planning decides and defines the goals and objectives by putting into disposition the resources and the means for a quantitative and qualitative production. Today the protagonists of planning set before them a definite and measurable goal on a realistic basis. It analyzes the activities and puts into disposition the resources which guarantees the success.. Purpose of Plan: Planning helps the management to have clarity, to focus accurately on the process and do research. Modern planning is done after the accurate research and experience. It foresees much in advance to avoid mistakes. Planning is an outcome of expertise today. Planning decides its goals, objectives, tasks, control feedback and incentives. The goals are measurable and realistic. They are specific and accepted by its board members. Planning is an outcome of the review done after the past performance. Planning foresees the required budget and the precaution against the crisis. Planning has its own policy to abide by it . It sets definite standards. Today the planning is scientific and realistic. Planning foresees to motivate all those who are involved for its realization. Planning organizes the activities, delegates the tasks, makes use of modern devises for the rapid communication, co-ordinates the activities without conflict and tension. It is a team work and no one can use monopoly over any task or office. Planning has an effective system of control and survey, prepare the reports, offer coaching and arranging ongoing training and incentives for the promotion of the individuals. Today the Standards are set up in terms that relate to the job and are meaningful to the employees.


What is the importance of assessing one's PECs before engaging in a particular entrepreneurial activity?

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Related questions

When is Direct Labor Budget prepared?

Direct labor budget is prepared during planning stage before the actual production starts.


Who planned the d day invasion?

A committee and planning staff led by British General Morgan planned it for almost 3 years before it happened.


Why is it important to have a project plan before doing an activity?

What is Project Planning?Any Project that needs to be executed has to be planned. Any tasks that was begun without proper planning and due diligence is almost always a failure. So, as a responsible project manager you have to plan your project properly to ensure that, your baby is a success. After all, which project manager wants to spend months of his time on a failing cause? Atleast, I don't …What are the Phases Involved in Project Planning?Project Planning involves 4 important phases. They are:1. Planning the Project Scope2. Planning the Project Resources3. Planning the Project Schedule4. Planning Quality & Risk ManagementEach of these 4 phases is equally important and have a significant impact on the success of the project.The output of all these phases put together is the Project Management Plan that can be used to manage the project (if prepared efficiently)As Project Managers we need to put in dedicated effort to plan for each of these phases


What is the difference between planning and decision making?

Decision making is required during planning but planning is forming a plan before doing. Decision making is required while doing because unplanned things happen.


What are projected financial statements?

Projected financial statements are estimated financial statements before starting of any operating activity for planning purpose.


What is a cashflow budget?

Budgeted cash flow statement is the estimated cash flow statement for planning purpose before the actual activity starts


I'm planning a family vacation trip to Florida, where can I find local gas prices there before I leave?

AAA has a gadget on their site that shows gas prices for your planned trips.


What is the difference between legal accessory before the fact and an accessory after the fact?

Accessory before the fact implies that a defendant planned in or assisted with the gathering items necessary for an activity that lead up to the point that the planned crime was committed. After the fact implies the same but they assisted with or gathering items to hide the crime committed.


What have archaeologists conclude about the cities in the Indus Valley from studying their careful planning and modern plumbing?

It is obvious that Indus Valley cities were planned and laid out in a grid system before being built.


What is pre planning?

In almost all cases, the term "pre-planning" is redundant. Planning, by definition, is done in advance of an activity. The prefix "pre-" means "before". So, you don't "pre-plan" to do something, unless you are planning to make a plan. The same goes for "advance planning", "advance warning" and "advance notice". All are examples of bad writing style.


What is pre-planning?

In almost all cases, the term "pre-planning" is redundant. Planning, by definition, is done in advance of an activity. The prefix "pre-" means "before". So, you don't "pre-plan" to do something, unless you are planning to make a plan. The same goes for "advance planning", "advance warning" and "advance notice". All are examples of bad writing style.


What is the difference between contingency planning and crisis management?

Contingency planning is where organisations prepare contingency plans in recognition of the fact that things do go wrong from time to time, so this is prepared BEFORE A CRISIS. It refers to being proactive, what-if's. Crisis Management involves identifying a crisis and planning a response, AFTER a crisis has occurred.