CLAT Fill in the Blanks Practice Questions With Solutions

Since long, we have witnessed unimaginable levels of success and failure of various projects, businesses, scientific missions and even wars. From such triumphs and defeats emerges the much debatable thought: Is planning and strategy more important than exe cution? Some project leaders and their teams are of the view that planning leads to clarity of objectives; it helps to set the timeline and the budget. Consequently, when the planning is haphazard and unstructured, the very aims of the projects become hazy. This f urther leads to unprecedented budget collapses and poor time -management. In some cases, teams have worked relentlessly to complete assignments, but poor planning has invariably led to customer dissatisfaction and at times a complete collapse of the entire project. In the words of Benjamin Franklin, “Failing to plan is planning to fail.” Numerous entrepreneurs have the faith that strategies help to enhance not only speed and quality of production, but also consumer satisfaction. If there are no strategies to tackle unplanned events or unexpected interruptions, there is a possibility of entire projects coming to a grinding halt. Some of the world’s best airports, bridges and astronomical missions are the result of careful planning and excellent strategies. However, there are some architects, artists and entrepreneurs who prefer to dive straight from the board of ideas into the pool of execution. They believe that suitable strategies are best shaped during the process of execution; great plans and strategies can fail while encountering unexpected situations. Steve Jobs says, “To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.” According to Bill Gates, unhappy customers are the greatest source of learning. Fickle -minded consumers and wavering market trends can mar projects that stand on fixed plans. It is the need -based, flexible and innovative strategies that help to withstand t he impact of these vacillating desires and trends. After rigorous planning and testing a new recipe on two lakh consumers, in 1985, the company Coke brought out the New Coke. Much to the company’s dismay, the product did not take off as expected and the financial loss was enormous. The company realized tha t during the process of data collection, it had not considered the product -loyalty and old -fashioned habits of the consumers. Hence, a balance of pragmatic planning, effective strategies and efficient execution is likely to ensure the accomplishment of tasks at each stage of a project. Successful execution is not an easy journey. The road is winding and bumpy. It may require tweaking or at times abandoning the original plan and re -designing it. Often, we turn to nature for inspiration. Think plans and strategies are the seed; execution is the nourishment; consumer is the capricious weather.

Fill in the blank by choosing the most appropriate option.