Question number 8
Dear student,
7) Business operates in an environment which is dynamic, i.e it keeps on changing, it requires an organisation to change its structure with change in environment
8) i) The limitation of planning highlighted above is: Planning lack flexibility to deal with dynamic environment.
ii) The two plans are:
Strategy: it refers to determining long term objectives and allocating necessary resources to achieve the same.
Budget: It refers to numerically expressed financial statements that defines target to be achieved.
Regards
7) Business operates in an environment which is dynamic, i.e it keeps on changing, it requires an organisation to change its structure with change in environment
8) i) The limitation of planning highlighted above is: Planning lack flexibility to deal with dynamic environment.
ii) The two plans are:
Strategy: it refers to determining long term objectives and allocating necessary resources to achieve the same.
Budget: It refers to numerically expressed financial statements that defines target to be achieved.
Regards