Q. Suhasini a home science graduate from a reputed college has recently done a cookery course, She wished to start her own venture with a goal to provide ' health food' at reasonable price. She discussed her idea with her teacher (mentor) who encouraged her. After analyzing various options for starting her business venture, they shortlisted the option to sell readymade and 'ready to make' vegetable shakes and sattu milk shakes. Then they both weighed the pross and cons of both the shortlisted options.
(a) Name the function of management being discussed above and give any one of its characteristics.
(b) Also briefly discuss any three limitations of the function discussed in the case.
Dear Student,
(a) Function of management: Planning as it involves evaluation courses of action.
Characteristics of planning : Planning focuses on objectives of the organisation.
(b) Limitation of planning :
(a) Function of management: Planning as it involves evaluation courses of action.
Characteristics of planning : Planning focuses on objectives of the organisation.
(b) Limitation of planning :
- Planning is a time consuming process.
- Planning is a costly process as planning is done by top managers and they charge a high price .
- Planning does not work in a dynamic environment . Future is uncertain and dynamic and future anticipations are not always true.