BUISENESS MANAGEMENT
BUSINESS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Follow up
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Implementing the plan
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Setting objectives
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developing premises
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Detailed explanation-1: -Answer: The importance of planning indicated in the above case are: Planning provides directions. It has in advance given targets to all its departments and employees.
Detailed explanation-2: -(iv) Planning promotes innovative ideas Planning is the first function of management, where new ideas can take the shape of concrete plans. It is the most challenging job or an activity of the management as’it guides all future actions, leading to growth and prosperity of the business.
Detailed explanation-3: -Q) (b) Which limitation of the function of management as identified in part (a) of the question was the production manager trying to overcome due to demonetization? Ans: Planning may not Work in a Dynamic Environment.
Detailed explanation-4: -Further he says planning takes so much time that no time is left for their implementation. On other hand, Raman is of opposite views he says planning helps by stating in advance what is to be done and how it is to be done.It shows the ways to deal with changes and uncertain events.