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Question

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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