Question

) Serious Business’ is a balloon manufacturing firm. With the arrival of foreign firms it is feeling the pressure of improving its business strategy. Because of the firm’s advance planning it could not suddenly bring changes in its plans as the whole organisation had started implementing the decided plan. But this year the organisation wants to ensure success. However, the firm knows that the external environment is changeable and continues to vary in a fast manner. The organisation wants to prepare in advance for a better future. It has decided to allocate a portion of its budget specifically for proper planning as it knows there are going to be expenses like Expert’s fee, survey charges, etc.Which limitations of planning have been identified in the above case? (3 marks) b) Explain the first three steps in planning process? (3 marks)
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Answer 1

Explanation:

Resource planning is essential for the sustainable existence of all forms of life. This shows that resource planning is needed at the national, regional, state and local levels for the balanced development of a country.