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- 1. Why is business plan important when planning a business? 2. Why is knowledge about the structures of markets in which the firms operate important? How could this be of help to you in order to understand the differences in prices and services? 3. What is the importance of a business plan?1. Explain the suitability of scenario planning in a highly volatile and turbulent business environment. 2. Explain THREE corporate-level strategies of a organization to decide the future direction of the business"Planning is not an activity but a rational process". Discuss and give the various steps in a planning process.
- The limitations of planning are too serious to make planning a creditable functions . What are the limitations of planning ?What are the benefits and limitations of using a formal planning process? Discuss the advantages and disadvantages of formal planning, and provide examples of when it is most effective.What are the advantages and limitations of different types of planning methods, such as scenario planning or contingency planning?
- which of the following assumptions characterizes comprehensive planning? OA. There is a common public interest that can be identified by planners. B. Rational analysis can diagnose problems and develop strategies to address them. C. Each community is made up of different groups and interests, each with equally legitimate goals and values, and conflicts between them can only be resolved by the political process. O D. Planners can deploy their scientific expertise to identify public goals and objectives, analyze situations and diagnose problems, and propose appropriate responses. O E. A central general-government agency is empowered to implement the plan's proposl.What is the difference between planning for the long term and planning for the short term? Computers as a field of studyIn this chapter, we talked about how firms do strategic, functional, and operational planning. Yet some firms seem to be successful without formal planning. Do you think planning is essential to a firm's success? How might planning hurt an organization? Under what cir- cumstances do you believe that formal planning is and is not important to an organization?