5 Questions
What is a potential disadvantage of planning in an organization?
It can hinder managers' creativity and innovation if not flexible enough
What is a potential risk of relying too heavily on a plan?
It causes severe problems in the face of changed circumstances
What is a limitation of the planning process?
It can be based on inaccurate forecasts
What is a potential cost of the planning process?
It takes managers' time away from other responsibilities
Why is it important to weigh the costs and benefits of the planning process?
Because the costs and benefits need to be balanced
Learn about the strategic planning process, its importance, and how it helps in developing a shared vision and sense of joint-ownership among staff. Understand how objectives are formally expressed and methods of attaining them are defined.
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