"Most of the time, employees do not even attempt to formulate plans". Which limitation of Planning is indicated by the given statement ?

Aren has completed his studies and now wants to start his own business. He has undertaken the given steps in the planning process. Rearrange them to create the correct process of planning.

A. He has forecasted the demand of his products, interest rate, price of capital goods, tax rate

B. Aren decides to produce in bulk to reduce cost of production

C. Aren found out that increasing price and reducing quality will reduce his customers, but producing in bulk will increase customers

D. Aren sets an objective to earn 20% profit in the first year of business

E. To achieve the target, Aren can reduce price of product or reduce quality of raw material or produce in bulk to reduce cost of production.

Choose the correct answer from the options given below:

Identify the correct sequence of steps involved in the process of planning.

A. Ideal plan having least negative consequences to be selected

B. Specifying quantitative goals to be achieved by the organization

C. Weighing the pros and cons of each alternative course

D. Forecasting based on assumptions relating to the future

E. Identifying all the alternative courses of action available

Choose the correct answer from the options given below:

Arrange the following steps followed during the planning process in a proper sequence.

A. Developing premises

B. Evaluating alternative courses

C. Selecting an alternative

D. Setting an Objective

E. Identifying alternative courses of action

Which of the following is related to the benefits of Planning?

(A) Planning provides directions

(B) Planning ensures certainty

(C) Planning establishes standards for controlling

(D) Planning facilitates decision making

Choose the correct answer from the options given below:

Employees of a leading Pharmacy company are instructed to follow the plans made by the top management. No one is allowed to act on their own. Identify the limitation of planning in the above mentioned line.

"In an organisation, a well-defined plan is drawn up with specific goals to be achieved within a specific time frame. These plans then decide the future course of action and managers may not be in a position to change it. Following a pre-decided plan, when circumstances have changed, it may not turn out to be in the organisations interest".

The above statement reflects which limitation of planning?