(a) State any four limitations of planning.
OR
(b) Explain the following types of plans:
(i) Strategy
(ii) Procedure
OR
(b) Explain the following types of plans: (i) Strategy (ii) Procedure
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Solution and Explanation
(a) Limitations of Planning:
1. Rigidity:
- Fixed plans may hinder adaptability
- Example: Kodak's failure to pivot from film photography
- Impact: 63 percent of rigid plans fail during market shifts (McKinsey)
2. Time-Consuming:
- Delays urgent decision-making
- Average strategic plan takes 3-6 months to develop
- Opportunity costs during planning periods
3. Costly Process:
- Requires specialized personnel
- Market research expenses
- Technology investments for forecasting
4. False Sense of Security:
- Over-reliance on plans
- Neglects emergent strategies
- Case: Blockbuster's plan-based complacency vs Netflix's agility
(b)(i) Strategy:
- Definition: Comprehensive master plan for achieving long-term objectives
- Characteristics:
- Organization-wide scope
- Resource allocation framework
- Competitive positioning tool
- Example: Apple's ecosystem strategy (hardware-software integration)
(ii) Procedure:
- Definition: Step-by-step guidelines for routine activities
- Characteristics:
- Chronological sequence
- Department-specific
- Standardized implementation
- Example: McDonald's 60-step burger preparation procedure
Top Questions on Planning
Match List I with List II.
- Arrange the steps of Planning Process in a proper order:
(A) Implementation of plan and follow-up action
(B) Developing Premises
(C) Identification and evaluation of alternative courses of action
(D) Setting up of objectives
(E) Selecting an alternative
Choose the correct answer from the options given below: - Which of the following is a principle by Fayol?
Match the features of planning in List I with their descriptions in List II
List I List II A. Planning is Pervasive I. It is required at all levels of management and in all departments of the organisation. B. Planning is Continuous II. It involves looking ahead and preparing for future events to the best advantage of an organisation. C. Planning is a Primary Function III. It lays down the base for other managerial functions. D. Planning is Futuristic IV. Plans are prepared for a specific period, and at the end of that period, new plans are drawn based on new requirements and future conditions. “Planning bridges the gap between where we are and where we want to go”. Identify the features of planning.
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