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Which of the following statement is incorrect with respect to limitations of planning?
- a)Planning guarantee success.
- b)Planning is inexpensive.
- c)Both (A) and (B)
- d)None of these
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Which of the following statement is incorrect with respect to limitati...
Planning does not guarantee success. The success of an enterprise is possible only when plans are properly drawn up and implemented. Any plan needs to be translated into action or it becomes meaningless. Managers have a tendency to rely on previously tried and tested successful plans. It is not always true that just because a plan has worked before it will work again. Besides, there are so many other unknown factors to be considered. This kind of complacency and false sense of security may actually lead to failure instead of success. Planning involves huge costs. When plans are drawn up huge costs are involved in their formulation. These may be in terms of time and money for example, checking accuracy of facts may involve lot of time.
Most Upvoted Answer
Which of the following statement is incorrect with respect to limitati...
Limitations of Planning
Planning is an essential function of management. However, there are certain limitations to planning that need to be taken into consideration. The incorrect statement with respect to limitations of planning is:
Planning guarantees success.
Incorrect Statement
a) Planning guarantees success.
Limitations of Planning
b) Planning is expensive.
Planning requires resources like time, money, and effort, which can be expensive.
c) Planning cannot account for all external factors.
External factors like changes in the market, legal regulations, or natural disasters can affect the outcome of a plan.
d) Planning can lead to rigidity.
Sometimes, planning can be too rigid, which can hinder the ability to adapt to changes and make necessary adjustments.
e) Planning can be time-consuming.
Planning requires a considerable amount of time and effort, which can slow down decision-making processes.
Conclusion
In conclusion, planning is an important function of management, but it has its limitations. Success cannot be guaranteed through planning, and it requires resources, flexibility, and adaptability to external factors. Managers should keep these limitations in mind while formulating plans and making decisions.
Planning is an essential function of management. However, there are certain limitations to planning that need to be taken into consideration. The incorrect statement with respect to limitations of planning is:
Planning guarantees success.
Incorrect Statement
a) Planning guarantees success.
Limitations of Planning
b) Planning is expensive.
Planning requires resources like time, money, and effort, which can be expensive.
c) Planning cannot account for all external factors.
External factors like changes in the market, legal regulations, or natural disasters can affect the outcome of a plan.
d) Planning can lead to rigidity.
Sometimes, planning can be too rigid, which can hinder the ability to adapt to changes and make necessary adjustments.
e) Planning can be time-consuming.
Planning requires a considerable amount of time and effort, which can slow down decision-making processes.
Conclusion
In conclusion, planning is an important function of management, but it has its limitations. Success cannot be guaranteed through planning, and it requires resources, flexibility, and adaptability to external factors. Managers should keep these limitations in mind while formulating plans and making decisions.
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Which of the following statement is incorrect with respect to limitations of planning?a)Planning guarantee success.b)Planning is inexpensive.c)Both (A) and (B)d)None of theseCorrect answer is option 'C'. Can you explain this answer?
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