Question : Department and individuals in the organisation are able to work in co-ordination. Which importance of planning is highlighted in the above statement?
Option 1: Planning provide direction
Option 2: Planning reduces overlapping and wasteful activities
Option 3: Planning reduces the risk of uncertainty
Option 4: Planning facilitates decision making
Correct Answer: Planning provide direction
Solution : The term "planning" refers to a predetermined course of action. It gives the instructions. It provides direction to employees' efforts. Planning clarifies what employees must do, how they must do it, and so on. This also leads to unity of direction; without planning, employees would be working in different directions, and the organisation would be unable to achieve its goals. Hence, option 1 is the correct answer.
Question : Which of the following limitation of planning is highlighted in the below statement? Planning can't forecast everything.
Option 1: Planning leads to rigidity.
Option 2: Planning may not work in a dynamic environment.
Option 3: Planning reduces creativity.
Option 4: Planning involves huge cost.
Question : Which of the following limitation of planning is highlighted in the below statement? Cost may be in terms of time and money.
Question : Which of the following limitation of planning is highlighted in the below statement? Plans formulated by top level managers need to be followed strictly.
Question : Which of the following limitation of planning is highlighted in the below statement? To cope up with the circumstances managers need to be given some flexibility.
Question : Ravi is trying to coordinate the functioning of various department. Which of the following importance of financial planning is highlighted in the given statement?
Option 1: Helps in avoidance of business shocks and surprises
Option 2: Helps in coordinating various business functions.
Option 3: Helps in reducing waste and duplication of efforts.
Option 4: Provides link between investment and financing decision.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile