Match List-I with List-II.

Choose the correct answer from the options given below :

(A)-(II), (B)-(IV),(C)-(III), (D)-(I)

The correct answer is option (1)- (A)-(II), (B)-(IV),(C)-(III), (D)-(I).

Single-use Plan: A single-use plan is developed for a one-time event or project. Such a course of action is not likely to be repeated in future, i.e., they are for non-recurring situations. These plans include budgets, programmes and projects. They consist of details, including the names of employees who are responsible for doing the work and contributing to the single-use plan. For example, a programme may consist of identifying steps, procedures required for opening a new department to deal with other minor work. Projects are similar to programmes but differ in scope and complexity. A budget is a statement of expenses, revenue and income for a specified period.

Standing Plan: A standing plan is used for activities that occur regularly over a period of time. It is designed to ensure that internal operations of an organisation run smoothly. Such a plan greatly enhances efficiency in routine decision-making. It is usually developed once but is modified from time to time to meet business needs as required. Standing plans include policies, procedures, methods and rules.

Limitations of Planning- Planning leads to rigidity; reduces creativity; involves huge costs; It is a time consuming process; Planning does not work in a dynamic environment; and does not guarantee success.

Steps in planning- Planning Process- Setting objectives,Developing premises, Identifying alternative courses of action, Evaluating alternative courses, Selecting an alternative, Follow-up action.