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Is planning actually worth the huge costs involved? Explain

Is planning actually worth the huge costs involved? Explain.


Planning involves huge costs in terms of time and money. It involves analysis, research and scientific calculations that involve huge costs. However, despite being an expensive function it is a very basic and essential function of an organisation. Following are some of the highlighted factors due to which we can say that planning is a very significant action despite of the gigantic costs.

(i) Renders Direction: Planning clearly states the goals and objectives to be achieved. Thus, it acts as a guide for the actions to be taken. It provides a direction to the actions of different departments of the organisation. They guide the managers about things to be done, what route to take and how the objectives are to be achieved. It ensures that the path taken for accomplishment of goals is righteously chosen. Planning also ensures that various departments of the organisation work in a coordinated manner towards the achievement of the desired objectives.

(ii) Subdued Risk: By guiding an organisation in the right direction, it accredits its managers to analyse and anticipate changes. This leads to a reduction in uncertainty of the foreseen events. Planning shows how to deal with situations, which may arise in the due course of management, though it does not fully eliminate the problems.

(iii) Minimized Overlapping: As the managers are well comprehended with the policies and plans of the organisation, they coordinate the activities together to reach the objectives. Thus, overlapping of the work is reduced. In addition, any wastage of resources that takes place due to overlapping is reduced. Proper planning ensures that there is no confusion and misunderstanding and the work proceeds smoothly.

(iv) Encourages Creativity: Planning serves as the stepping-stone of any organization’s success. It includes formulating policies and plans which requires innovation. It is a crucial activity, which demands the best of managers thinking capabilities and creativity. It calls out for new ideas by the management to attain the goals.

(v) Helps in Decision Making: Planning serves as the basis for decision making. Planning involves analysing the future, evaluating the various courses of action and choosing the best alternative as per the objective. Thus, following a proper planning process helps the managers in taking rational decisions.

(vi) Essential for Controlling: Planning states the objectives that are to be achieved. Thus, it sets the standards against which the performance is evaluated. It also helps in determining whether there is any deviation from the said objectives and thereby, facilitates the corrective measures. Hence, we can infer that despite the costs involved, planning is a very important function in management and worth the costs incurred. 

Is planning actually worth the huge costs involved? Explain

More Question

  1. How can the firms cope with changing technological environment?
  2. What do you mean by Liberalisation?
  3. How have customers benefited from increased competition after liberalization and globalization?
  4. Which of the sector was given importance after independence?
  5. What is a Business Environment?
  6. Discuss the following techniques of Scientific Work-Study:
  7. Explain the importance of management principles
  8. Explain why is it said that principles of management are 'mainly behavioural' and 'contingent' in nature. Also, explain how principles of management 'provides managers with useful insights into reality and 'helps in thoughtful decision-making
  9. Explain the Features of the principles of Management
  10. ‘Discipline is a double-edged tool’ Comment
  11. "Derivation of management principles may be said to be a matter of science." Explain
  12. "Management principles are evolutionary." Explain
  13. How are management principles derived?
  14. Explain why is it said that principles of management are 'mainly behavioural' and 'contingent' in nature. Also, explain how principles of management 'provides managers with useful insights into reality and 'helps in thoughtful decision-making. (CBSE 2016)
  15. What is meant by the flexibility of principles of management?
  16. Hina & Hitesh are typists in a company having the same educational qualification. Hina is getting Rs. 3000 per month $ Hitesh is getting Rs 4000 per month
  17. A subordinate receives orders from more than one boss’. Which principle is violated?
  18. Who Suggested the concept of functional foremanship?
  19. The directors of XYZ limited, an organization manufacturing computers, want to double the sales and have given the responsibility to the sales manager
  20. A company manufacturing motorcycles and cars should have separate divisions for both, headed by separate divisional managers, separate plans and resources. Identify the principle with the help of this example.
  21. Name the organizational structure which helps in increasing managerial and operational efficiency. (CBSE 2016)
  22. What do you mean by Mental Revolution?
  23. Factory owners or managers relied on the personal judgment in attending to the problems they confronted in the course of managing their work. Which principle of Taylor is it referring to?
  24. State the role of 'route clerk' in functional foremanship. (CBSE Board 2016)
  25. State the technique of scientific management which is the strong motivator for a worker to reach standard performance
  26. What is meant by Management principles?
  27. State the role of 'Gang Boss' in functional foremanship
  28. Aman, Ahmad and Ally are partners in a firm engaged in the distribution of dairy products in Maharashtra state. Aman is a holder of a Senior Secondary School Certificate from the Central Board of Secondary Education with  as one of his elective subjects. Ahmad had done his post-graduation in History and Ally in dairy farming.
  29. “Success of an organization largely depends upon its management.” Explain any five reasons to justify the above statement
  30. Without effective management the resources will remain as resources cannot be converted into productive utilities. “do you agree” ? give reasons
  31. A company manufacturing mobiles is facing the problem of decreasing sales in the market. You can imagine any product about which you are familiar. What decisions/ steps, each level of management should take to give effect to this decision?
  32. Explain any four features of coordination. (CBSE BOARD 2016)
  33. ‘Management provides judgement and vision’. Explain?
  34. Rishitosh Mukherjee has recently joined AMV Ltd, A company manufacturing refrigerators. He found that his department was understaffed and other departments were not cooperating with his department for smooth functioning of the organisation. Therefore, he ensured that his department has the required number of employees and its cooperation with other departments in improved.
  35. Ashutosh Goenka was working in 'Axe Ltd.', a company manufacturing air purifiers. He found that the profits had started declining from the last six months. Profit has an implication for the survival of the firm, so he analysed the business environment to find out the reasons for this decline.
  36. What is meant by 'Management'? Explain any three features that establish it as an Art
  37. ABC ltd. is facing a lot of problems these days. The company’s profit margin is declining day by day. The production manager is blaming marketing management whereas marketing is blaming the production department for not maintaining the quality. The finance department is blaming both. What quality of management do you think is lacking. Explain it briefly.
  38. Explain the features of management that do not establish it as a profession. ( CBSE Board-2016)
  39. 'Is Management concerned only with doing the right task, completing activities and achieving goals without taking into consideration the cost-benefit?' Give a reason in support of your answer. (CBSE Board 2016)
  40. A company’s target production is 5000 units in a year, to achieve this target the manager has to operate in double shifts due to power failure. The manager is able to meet the target but at a higher production cost. Is the manager efficient or effective?
  41. An achievement of which organizational objectives results in “an increase in sales volume, increase in the number of employees, no of products, and increase in capital investment’
  42. State any two points which prove that management is multi-dimensional?
  43. How is entry to a profession restricted?
  44. How does coordination integrate group efforts? State Briefly. (CBSE Board-2015)
  45. “Management is considered to be a three-tier machinery”. Why?
  46. List any two social objectives of management. (CBSE Board -2011, 2010)
  47. 'Is Management concerned only with doing the right task, completing activities and achieving goals without taking into consideration the cost benefit’? Give a reason in support of your answer? (CBSE Board- 2016)
  48. “A collection of diverse individuals with different needs but working towards fulfilling the common organizational goals” this statement highlights which characteristic of management?
  49. To meet the objectives of the firm the management of Angora Ltd. offer employment to physically challenged persons. Identify the organizational objective it is trying to achieve.
  50. In order to be successful, an organization must change its goals according to the need of the environment. Which characteristic of management in highlighted in the statement?
  51. What is meant by management? (CBSE Board -2011 )
  52. The management principles can be applied to all types of activities. Which type of characteristics is highlighted by this statement? (CBSE Board -2008)
  53. The Activities involved in managing an enterprise are common to all organizations whether economic, social or political. Which characteristics of management is highlighted by this statement?

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