Bhuvan Ltd is a garment manufacturing company, the company regularly scan business environment and constantly adapts itself to the changes in environment. With all these efforts also it became difficult for company to foresee future trends. Competition in the market effects the financial plan of the company, sales targets have to be revised which in turn effect the cash budget.
(i) Name and explain the limitation of planning highlighted in the above para
(ii) Identify the two types of plans mentioned in above para

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Solution

A) planning does not ensure the success of the business.
B) planning may not work in a dynamic environment.
Strategy and budgeted planning are two types of planning mentioned in the above paragraph.

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Bhavan Ltd. is a garment manufacturing company, the company regularly scan the business environment and constantly adapts itself to the changes in the environment. With all these efforts also it became difficult for the company to foresee future trends. Competition in the market effects the financial plan of the company, sales targets have to revise which in turn effect the cash budget. Identify the types of plans in the paragraph.

Q. Alpha Ltd. spent a lot of money to hire specialised people for framing their plans and collecting important facts from environment. The company cut down their cost by cancelling the employee's trip for recreation.
(i) Name the limitation of planning mentioned in above para
(ii) Name the value overlook by management.

Beta Ltd. spent a lot of money to hire specialised people for framing their plans and collecting important facts from the environment. The company cut down their cost by canceling the employee's trip for recreation.

The limitation of planning mentioned in the above paragraph.

Q. A company ‘M’ limited is manufacturing mobile phones both for domestic Indian market as well as for export. It had enjoyed a substantial market share and also had a loyal customer following. But lately it has been experiencing problems because its targets have not been met with regard to sales and customer satisfaction. Also mobile market in India has grown tremendously and new players have come with better technology and pricing. This is causing problems for the company. It is planning to revamp its controlling system and take other steps necessary to rectify the problems it is facing.

Questions

1. Identify the benefits the company will derive from a good control system.

2. How can the company relate its planning with control in this line of business to ensure that its plans are actually implemented and targets attained.

3. Give the steps in the control process that the company should follow to remove the problems it is facing.

4. What techniques of control can the company use? In all the answers keep in mind the sector of business the company is in.

A company M Ltd. is manufacturing mobile phones both for the domestic Indian market as well as for export. It had enjoyed a substantial market share and also had a loyal customer following. But lately, it has been experiencing problems because its targets have not been met with regard to sales and customer satisfaction.

Also, the mobile market in India has grown tremendously and new players have come with better technology and pricing. This is causing problems for the company. It is planning to revamp its controlling system and take other steps necessary to rectify the problems it is facing.

How can the company relate its planning with control in this line of business to ensure that its plans are actually implemented and targets attained?

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A) planning does not ensure the success of the business.B) planning may not work in a dynamic environment.Strategy and budgeted planning are two types of planning mentioned in the above paragraph.

A) planning does not ensure the success of the business.
B) planning may not work in a dynamic environment.
Strategy and budgeted planning are two types of planning mentioned in the above paragraph.