Welcome to the NCERT Solutions for Class 12 Business Studies - Chapter Planning. This page offers a step-by-step solution to the specific question from Exercise 3, Question 1: . With detailed answers and explanations for each chapter, students can strengthen their understanding and prepare confidently for exams. Ideal for CBSE and other board students, this resource will simplify your study experience.
Why is it that organisations are not always able to accomplish all their objectives?
Planning is the most important activity as it tells where to go. And it provides direction and reduces the risk of uncertainty by preparing forecasts. And it is extremely important to invest enough time and money to formulate plans for the success of the organization. But due to the dynamic nature of the business environment the plans of the organization do not work accordingly. This is because it has various limitations and due to which the organizations would not be able to achieve its objectives. Followings are the limitations of planning:
1. Planning leads to rigidity: A specific plan made in an organization indicates the objective to be achieved and the ways of doing work. And a manager may not be able to change these plans, it leads to rigidity.
2. Planning may not work in a dynamic environment: Business environment consists of social, economical, legal, political, and technological factors which keep on changing. And the organization has to adapt these changes by itself. But planning cannot exactly assess the future trends and thus fails in a dynamic environment.
3. Planning reduces creativity: Planning is the activity which is performed by the top level of management and the members of middle and lower level of management are there just to implement these plans. They are neither allowed to participate in the planning process nor permitted to act on their own. And this leads to reduction in creativity and innovation.
4. Planning involves huge costs: Planning involves a lot of time, cost and efforts of the managers. It requires collection of data, boardroom meetings, investigation and discussion with experts and it involves a lot of expenditures of the organization. And sometimes the cost incurred may not justify the benefits derived from the plans.
5. Planning is a time consuming process: Sometimes the planning process takes a lot of time and due to which there is not much time left for their implementation. And this leads to failure of planning.
6. Planning does not guarantee success: The success of planning totally depends upon its implementation. And lack of proper implementation leads to failure of planning. Though the plan has worked earlier, it may not work again due to change in the external environment.
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Read MoreWelcome to the NCERT Solutions for Class 12 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Excercise 3 , Question 1: Why is it that organisations are not always able to accomplish all their objectives?....
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