The following are the steps in the process of Planning:

(A) Weighing the pros and cons of each alternative.

(B) Identifying alternative courses of action.

(C) Putting the plan into action.

(D) Monitoring the plans is to ensure that objectives are achieved.

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________ is usually developed once but is modified from time to time to meet business needs as required.

“Planning requires logical and systematic thinking rather than guess work or wishful thinking”. Identify the feature of planning highlighted in the aforesaid statement.

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

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Identify the correct sequence of steps in the Planning Process:

(A) Evaluating alternative courses

(B) Implementing the plan

(C) Selecting an alternative

(D) Follow-up action

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Since planning is an activity, there are certain logical steps for every manager to follow. Identify the correct sequence from the options given below:

1. Selecting an alternative: This is the real point of decision-making.
2. Evaluating alternative courses: The next step is to weigh the pros and cons of each alternative. The best plan has to be adopted and implemented.
3. Follow-up action: Monitoring the plans is equally important to ensure that objectives are achieved.
4. Implement the plan: This is concerned with putting the plan into action.

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Which of the following are the importance of Planning?

(A) Planning provides direction

(B) Planning reduces overlapping and wasteful activities

(C) Planning promotes innovative ideas

(D) Planning reduces the risk of certainty

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