Strategic Planning Fundamentals
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Questions and Answers

What is a potential disadvantage of planning in an organization?

  • It can hinder managers' creativity and innovation if not flexible enough (correct)
  • It is unnecessary for business operations
  • It enhances creativity and innovation
  • It always leads to accurate forecasts
  • What is a potential risk of relying too heavily on a plan?

  • It leads to increased adaptability to new opportunities
  • It promotes creativity and innovation
  • It always results in accurate forecasts
  • It causes severe problems in the face of changed circumstances (correct)
  • What is a limitation of the planning process?

  • It can be based on inaccurate forecasts (correct)
  • It is always flexible and adaptable
  • It is unnecessary for business operations
  • It always leads to accurate forecasts
  • What is a potential cost of the planning process?

    <p>It takes managers' time away from other responsibilities</p> Signup and view all the answers

    Why is it important to weigh the costs and benefits of the planning process?

    <p>Because the costs and benefits need to be balanced</p> Signup and view all the answers

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