Which of the following are the limitations of Planning?

(A) Planning leads to rigidity

(B) Planning reduces creativity

(C) Planning involves huge costs

(D) Planning does not work in a dynamic environment

Choose the correct answer from the options given below:

Option 1 -> (A), (C) and (D) only - This option misses out on limitation (B) which states that planning reduces creativity, which is a valid limitation of planning.

Option 2 -> (A) and (C) only - This option only covers rigidity and costs, but excludes two other important limitations: reduced creativity (B) and ineffectiveness in dynamic environments (D).

Option 3 -> (A), (B), (C) and (D) - This option includes all four statements: rigidity, reduced creativity, huge costs, and challenges in dynamic environments - all of which are recognized limitations of planning.

Option 4 -> (B) and (D) only - This option only addresses reduced creativity and dynamic environment issues, while ignoring rigidity and cost-related limitations.

Hence, Option 3: (A), (B), (C) and (D) -> All four statements represent well-established limitations of planning in management. Planning can indeed lead to rigidity in operations, reduce creative thinking by following fixed paths, involve substantial costs in terms of time and resources, and become less effective in rapidly changing dynamic business environments -> correct