"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?

In the context of the types of plan, identify the correct statement.

Match List-I with List-II

Choose the correct answer from the options given below:

Setting objectives for a given time period, formulating various courses of action to achieve them, and then selecting the best possible alternative from among the various courses of action available is known as:

Manager can look into the future and make a choice from amongst various alternative courses of action.' Identify the significance of managerial function highlighted in this statement.

Identify the correct sequence of the Planning Process:

A. Developing premises

B. Selecting an alternative

C. Implementing the plan

D. Setting objectives

Choose the correct answer from the options given below:

"They define the future state of affairs which the organization strives to realize and serve as guide for overall business planning."

_______________ is the type of plan referred here.