Identify the correct statements in the context of the planning.

(A) Planning will be a futile exercise if it is not acted upon or implemented.

(B) Planning implies a process which coordinates human efforts and assembles resources.

(C) Planning is closely connected with creativity and innovation.

(D) Planning is what managers at all levels do.

Choose the correct answer from the options given below:

(A), (C) and (D) only

The correct answer is option 3- (A), (C) and (D) only.

(A) Planning will be a futile exercise if it is not acted upon or implemented. IT IS CORRECT. The plan that is developed has to have a given time frame but time is a limited resource. It needs to be utilised judiciously. If time factor is not taken into consideration, conditions in the environment may change and all business plans may go waste. Planning will be a futile exercise if it is not acted upon or implemented.

(B) Planning implies a process which coordinates human efforts and assembles resources. IT IS NOT CORRECT as organising coordinates human efforts and assembles resources. Organising essentially implies a process which coordinates human efforts, assembles resources and integrates both into a unified whole to be utilised for achieving specified objectives. Organising can be defined as a process that initiates implementation of plans by clarifying jobs and working relationships and effectively deploying resources for attainment of identified and desired results (goals).

(C) Planning is closely connected with creativity and innovation. IT IS CORRECT. Planning is deciding in advance what to do and how to do. It is one of the basic managerial functions. Before doing something, the manager must formulate an idea of how to work on a particular task. Thus, planning is closely connected with creativity and innovation. 

(D) Planning is what managers at all levels do. IT IS CORRECT. The manager would first have to set objectives, only then will a manager know where he has to go. Planning seeks to bridge the gap between where we are and where we want to go. Planning is what managers at all levels do. It requires taking decisions since it involves making a choice from alternative courses of action. Planning, thus, involves setting objectives and developing appropriate courses of action to achieve these objectives. Objectives provide direction for all managerial decisions and actions. Planning provides a rational approach for achieving predetermined objectives.