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Question : 21
Total: 40
Mega Ltd., holds an Annual Management Programme every year in the month of March in which the top managerial personnel formulate plans for the next year by analysing and predicting the future to meet future events effectively.
As they are responsible for providing direction to the organisation, facts are thoroughly checked using scientific calculations. Detailed plans are prepared after discussion with professional experts. Preliminary investigations are also undertaken to find out the viability of the plan. Since, it is an intellectual activity requiring intelligent imagination and sound judgement so it is mainly done by the top management. Usually rest of the members just implement the plans. Middle level managers are neither allowed to deviate from the plans nor are they permitted to act on their own. The top management ensures that the expenses incurred in formulating the plans justify the benefits derived from them.
State any two limitations and any two features of planning discussed above.
As they are responsible for providing direction to the organisation, facts are thoroughly checked using scientific calculations. Detailed plans are prepared after discussion with professional experts. Preliminary investigations are also undertaken to find out the viability of the plan. Since, it is an intellectual activity requiring intelligent imagination and sound judgement so it is mainly done by the top management. Usually rest of the members just implement the plans. Middle level managers are neither allowed to deviate from the plans nor are they permitted to act on their own. The top management ensures that the expenses incurred in formulating the plans justify the benefits derived from them.
State any two limitations and any two features of planning discussed above.
Solution:
Two limitations of planning as discussed above are :
(i) Planning reduces creativity : As it is mostly done by the top management; rest of the members just carry out orders and think on the same lines as others.
(ii) Planning involves huge costs: In terms of time and money. The costs involved sometimes may not justify the benefits derived from the plans.
Two features of planning are :
(i) Planning is futuristic: The top management formulate plans for the future by analysing and predicting the future event. Planning is futuristic in the sense that is foresees the future, thereby helping to prepare for uncertain future events.
(ii) Planning is a mental exercise : Planning is an intellectual activity rejoining intelligent imagination and sound judgement so it is mainly done by the top management. It requires application of mind and sound judgement since planning defines what is to be done in future thereby, helping to prepare for uncertain future events.
(i) Planning reduces creativity : As it is mostly done by the top management; rest of the members just carry out orders and think on the same lines as others.
(ii) Planning involves huge costs: In terms of time and money. The costs involved sometimes may not justify the benefits derived from the plans.
Two features of planning are :
(i) Planning is futuristic: The top management formulate plans for the future by analysing and predicting the future event. Planning is futuristic in the sense that is foresees the future, thereby helping to prepare for uncertain future events.
(ii) Planning is a mental exercise : Planning is an intellectual activity rejoining intelligent imagination and sound judgement so it is mainly done by the top management. It requires application of mind and sound judgement since planning defines what is to be done in future thereby, helping to prepare for uncertain future events.
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