Ask a Doubt
Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 12-commerce Answered

‘Serious Business’ is a balloon manufacturing firm. With the arrival of foreign firms it is feeling the pressure of improving its business strategy. Because of the firm’s advance planning it could not suddenly bring changes in its plans as the whole organisation had started implementing the decided plan. But this year the organisation wants to ensure success. However, the firm knows that the external environment is changeable and continues to vary in a fast manner. The organisation wants to prepare in advance for a better future. It has decided to allocate a portion of its budget specifically for proper planning as it knows there are going to be expenses like Expert’s fee, survey charges, etc. Which limitations of planning have been identified in the above case?
Asked by purnayyap | 06 Apr, 2020, 04:36: PM
answered-by-expert Expert Answer
Following are the limitations that have been identified in the above case:
  1. Rigidness: Planning is a process which determines objectives for an organisation along with a well-defined plan to achieve these objectives. These plans further guide the efforts of various departments/units and employees in an organisation. In case of any unforeseen circumstances, the changes which can be made to a plan are limited. A major change to an already created plan is neither possible nor would do any good in the interest of an organisation.
  2. Unsuitable for a dynamic environment: Planning is an activity which involves anticipation of future events and on the other hand business environment keeps changing from time to time. Due to this planning cannot foresee all the changes occurring in the complex business environment. Hence this dynamic nature of business environment creates many obstacles in the process of effective planning.
  3. Involves gigantic costs: Planning involves analysis, research and scientific calculations. These activities incur high cost and take much time. Apart from these, there a number of incidental expenses like board room meetings, hiring professional experts, feasibility analysis etc.
Answered by charmi | 07 Apr, 2020, 12:11: PM

Concept Videos

Multiple Choice Questions Practice Test
Answered Unanswered My Questions My Answers
CBSE 12-commerce - Business Studies Part I
co-operation features
Asked by arshiyasiddiqa321 | 10 Sep, 2023, 10:07: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
I want notes of this chapter
Asked by Abhayrajfighter | 12 Mar, 2022, 10:33: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
Bank overdraft
Asked by Sachinkumar12dec | 09 Mar, 2022, 04:23: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
current assets
Asked by itupriyadarshini | 27 Feb, 2022, 12:21: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
The principle of management given by Fayol which aims at preventing overlapping of activities is
Asked by vanshchhabra08 | 08 Dec, 2021, 08:21: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
Why  planning    is required  in   our day to day   life 
Asked by singhagaman6 | 08 Aug, 2021, 03:50: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
meaning of staffing and its importance  
Asked by shubambishnoi92900 | 24 Jul, 2020, 04:01: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
Tushar Aggarwal is working as the Managing Director in Aggarwal Infotech Limited'. He has got a long experience of management. He understands every complexity of management. This reservoir of knowledge he has obtained through continuous practice. Whenever he was faced with managerial problems, he faced them with firmness and tried to learn something from them. There are four departments in all in Mr. Aggarwal's company. They are: Marketing, Production, Finance and Personnel. The Marketing Department of the company has fixed high objectives of sales. All the Sales Executives are working hard day-in and day-out to achieve the objectives. On the other hand, the Manager of the production department has started the repair work in the factory at a large scale. Consequently, it has not been possible to supply the sales orders. It was beyond everybody's understanding how the two departments working under the so highly experienced Managing Director made such a big mistake.  
Asked by harshitcricket15 | 12 Jun, 2020, 01:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
Ruchi is the production manager in Videojet Limited. She is reported that the workers were not able to achieve the target production of 5,000 units per month from the last 3 months. On analysis, She found that though workers were operating for continuous shifts without any break, the machineries used in the production process was obsolete due to which the target was not achieved and the Wastage has considerable increased. Ruchi immediately ordered for the replacement of machine and she also ordered that the rest interval for the workers during the working hours. Further, She made changes in the operations in order to improve the working conditions for the workers. Identify and explain the steps of the function of management performed by Ruchi.
Asked by Sabbymehra17 | 06 Jun, 2020, 11:59: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Business Studies Part I
three-day exhibition was organized at Rashtrapati Bhawan in March, 2011 by National Innovation Foundation (NIF), an institute under Department of Science and Technology. The mission of NIF is to make India a global leader by building upon genius of grassroot technological innovators and traditional knowledge holders. In this exhibition, the ordinary people, who were facing lack pf education and resources showed their extraordinary innovations, which were cost effective as well. These included portable smokeless stove, solar mosquito killer, washing-cum-exercise machine etc.   a) Which principle of management is being fulfilled by organizing such exhibition? Explain.   b) Identify and explain an advantage of principles of management being achieved in the above case.  
Asked by Sandywool.mehra | 05 Jun, 2020, 04:06: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
My Class Videos Tests ₹ Plans Ask a Doubt
Get Latest Study Material for Academic year 24-25 Click here
×