Planning

Question 1

Importance of planning

Answer 1

Planning provides directions
Panning reduces risk of uncertainty
Planning reduces overlapping and wasteful activities
Planning promotes innovative ideas
Planning facilities decision making
Planning establishes standards for controlling

Question 2

Features

Answer 2

Planning focuses on achieving objectives
Planning is the primary function of management
Planning is pervasive
Planning is continuous
Planning is futuristic
Planning involves decision-making
Planning is a mental activity

Question 3

Limitations

Answer 3

Planning leads to rigidity
Planning may not work in dynamic nature
Planning reduces creativity
Planning involves huge costs
Planning is time-consuming process
Planning does not guarantee success

Question 4

Process

Answer 4

Setting objectives
Developing premises
Identifying various courses of action
Evaluating alternative courses
Selecting an alternative
Implementing the plan
Follow up action