Question

what do you mean by sole proprietor expalin its two limitations​

Answer 1

☆ANSWER☆

Definition: A business that legally has no separate existence from its owner. ... The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.

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Answer 2

Answer:

A business that legally has no separate existence from its owner. ... The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts

Explanation:

Following are the limitations of planning:

(1) Planning Creates Rigidity:

They are the following:

(i) Internal Inflexibility:

(ii) External Inflexibility:

(2) Planning Does Not Work in a Dynamic Environment:

(3) Planning Reduces Creativity:

(4) Planning Involves Huge Costs:

(5) Planning is a Time-consuming Process