The correct answer is option 3 i.e. 1-C, 2-A, 3-D, 4-B.
| 1. Planning reduces the risks of uncertainty |
C. Importance of Planning |
| 2. Planning is pervasive |
A. Feature of planning |
| 3. Follow-up action |
D. Step of planning process |
| 4. Planning reduces creativity |
B. Limitation of planning |
* Planning is a process of decision-making. Planning includes following steps-
(i) Setting Objectives
(ii) Developing Premises
(iii) Identifying alternative courses of action
(iv) Evaluating alternative courses
(v) Selecting an alternative
(vi) Implementing the plan
(vii) Follow-up action
* Planning is certainly important as it tells us where to go, it provides direction and reduces the risk of uncertainty by preparing forecasts. The major benefits of planning are given below-
(i) Planning provides directions
(ii) Planning reduces the risks of uncertainty
(iii) Planning reduces overlapping and wasteful activities
(iv) Planning promotes innovative ideas
(v) Planning facilitates decision making
(vi) Planning establishes standards for controlling
* Planning is deciding in advance what to do and how to do. The major limitations of planning are given below-
(i) Planning leads to rigidity
(ii) Planning may not work in a dynamic environment
(iii) Planning reduces creativity
(iv) Planning involves huge costs
(v) Planning is a time-consuming process
(vi) Planning does not guarantee success
* The planning function of the management has certain special features-
(i) Planning focuses on achieving objectives
(ii) Planning is a primary function of management
(iii) Planning is pervasive
(iv) Planning is continuous
(v) Planning is futuristic
(vi) Planning involves decision making
(vii) Planning is a mental exercise | 
