Cost of production increased because of sudden increase in transportation cost, which resulted in lesser profits. Which limitation of planning is highlighted in the aforesaid statement?
This question was previously asked in
Shift 16/06/2023 3:30 PM - 6:30 PM
A
Planning may not work in a dynamic environment
B
Planning involves huge costs
C
Planning reduces creativity
D
Planning is a time consuming process
Correct Answer
Planning may not work in a dynamic environment
Detailed Explanation
The limitation of planning highlighted in the given statement is:
- Planning may not work in a dynamic environment
The sudden increase in transportation costs, leading to a decrease in profits, indicates that the business environment is dynamic and can change unexpectedly. In such dynamic conditions, plans may become less effective as they might not adapt quickly enough to changes in the external environment.
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