BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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assumptions
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commitment
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detachment
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tactics
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benchmarking
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Detailed explanation-1: -Elaborate planning may create a false sense of security to the effect that everything is taken for granted. Managers assume that as long as they work as per plans, it is satisfactory. Therefore they fail to take up timely actions and an opportunity is lost.
Detailed explanation-2: -Which of the following is a pitfall of planning? It can impede change and slow needed adaptation.
Detailed explanation-3: -There are four main challenges when it comes to strategic planning: lack of ownership, poor communication, lack of alignment, and slow adoption. It’s important to understand what’s at the core of these challenges before we dive into solutions.
Detailed explanation-4: -It is not an exclusive function of top management nor of any particular department. But the scope of planning differs at different levels and among different departments.