Question : Statement 1: Planning involves setting objectives.
Statement 2: Planning is concerned only with resource allocation.
Option 1: Both statements are correct.
Option 2: Only statement 1 is correct.
Option 3: Only statement 2 is correct.
Option 4: Neither statement 1 nor statement 2 is correct.
Correct Answer:
Only statement 1 is correct.
Solution : The correct option is (b) Only statement 1 is correct.
Statement 1 is correct. Planning involves setting objectives, defining goals, and determining the actions required to achieve those objectives. Setting objectives is a crucial component of the planning process.
Statement 2 is incorrect. Planning is not concerned only with resource allocation; it encompasses a broader process that includes setting objectives, assessing current situations, identifying alternative courses of action, and making decisions to achieve organizational goals.
Therefore, only statement 1 is correct.
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