Limitations Of Planning

ABC Ltd. Has a plan of increasing profits by 20% . It has devoted a lot of time and money to this plan. But the competition starts increasing, so it could not changes its plan to beat its competitors because huge amount of money had already been devoted to the pre-decided plan. It caused losses to the company. Explain any two limitations of planning highlighted in the above case. Also, quote the lines from it.

Prem India Limited is a well-established International Camera Company. It was pioneer in introducing products like non-digital 'aim and shoot' cameras. After tasting success in the previous project, they introduced wide range of products in DSLR cameras. Their products range from 20 to 250 mega pixels digital cameras. With the advancement of technology, they planned to make huge investment in developing and selling even higher resolution digital cameras. The made a budget allocation of 1000rs crore in developing it. The comapny has started working on this improved product. It is a lengthy process of research and development. It may take 2 to 3 years to actually start production. In the mean time one of its competitors moved a step forward and developed and marketed mirror-less cameras in the market. It resulted in heavy losses to Prem India Limited. Identify any three limitations of planning by quoting the lines from the above para.

Alpha Ltd. Spent a lot of money to hire specialised people for framing their plans and collecting important facts from environment. The company cut down their cost by cancelling the employee's trip for recreation. (i) Name the limitation of planning mentioned in above para. (ii) Name the value overlook by management.

Palvinder, is working as a supervisor in Alpha Ltd. To achieve the target, he wants to try a new method and a different way of allocating the work, His superior did not permit him and forced him to do the work strictly as per the plan. (i) Name the limitation of planning indicated in the above para. (ii) Name the value overlook by Palvinder's superior.

Whose name is associated with formulation of Planning Strategy in Second Five Year Plan ?

Importance Of Planning

Classification Of Plans