Main social objectives of management are included in the following list:
(i) To make available employment opportunities.
(ii) To save environment from getting polluted.
(iii) To contribute in improving living standard.
                           

Dimensions of or the agents forming the business environment involve economic, social, legal, technological and political circumstances which are contemplated properly for decision-making and enhancing the achievement of the trading concern. There are five dimensions of the business environment that influence many firms. These dimensions include the economic environment, the social environment, the political environment, the legal environment, and the technological environment.

Planning is needed both in the business and non-business organizations. Some people think that planning is based on the future anticipations and nothing can be said with certainty about future. Therefore, it is a useless process.

Following are the limitations of planning:

(1) Planning Creates Rigidity:

Although the quality of flexibility is inherent in planning, meaning thereby that in case of need changes can be brought in, but it must be admitted that only small changes are possible. Big changes are neither possible nor in the interest of the organisation.

(2) Planning Does Not Work in a Dynamic Environment:

Planning is based on the anticipation of future happenings. Since future is uncertain and dynamic, therefore, the future anticipations are not always true. Therefore, to consider planning as the basis of success is like a leap in the dark.

(3) Planning Reduces Creativity:

Under planning all the activities connected with the attainment of objectives of the organisation are pre-determined. Consequently, everybody works as they have been directed to do and as it has been made clear in the plans.

(4) Planning Involves Huge Costs:

Planning is a small work but its process is really big. Planning becomes meaningful only after traversing a long path. It takes a lot of time to cover this path.

(5) Planning is a Time-consuming Process:

Planning is a blessing in facing a definite situation but because of its long process it cannot face sudden emergencies. Sudden emergencies can be in the form of some unforeseen problem or some opportunity of profits and there has been no planning for all these situations beforehand and which now requires immediate decision.

(6) Planning Does Not Guarantee Success:

Sometimes the managers think that planning solves all their problems. Such thinking makes them neglect their real work and the adverse effect of such an attitude has to be faced by the organisation.

The following are the differences between Stock and Flows:

Stocks:

1. Stocks associate to a point of time.

2. It does not have any dimension of time.

3. Stocks are influenced by flows for example, the higher is the saving, and the higher is the stock of wealth.

Flows:

1. They are associated with a span of time.

2. They hold a dimension of time.

3. Stocks effect flows.

In organizations, planning can become a management process, concerned with defining goals for a future direction and determining on the missions and resources to achieve those targets. To meet the goals, managers may develop plans such as a business plan or a marketing plan. ... Planning reduces risks.. Planning is the process of thinking about and organizing the activities required to achieve a desired goal. ... Planning is also a management process, concerned with defining goals for a company's future direction and determining the missions and resources to achieve those targets.

1. Order: Orderliness principle focuses on right arrangement of things. Everything and everyone should be at their respective places, in short ‘right people at right place and at right time’. This helps in carrying out the tasks smoothly. For example, if files are kept in a certain order then this will help in locating the file easily when required. Violation of this principle leads to chaos and delay in work.
2. Initiative– According to this principle, workers should be given enough motivation and incentive to work. They should be inspired to come up with suggestions for regarding the work. Although initiatives should be encouraged, but they should be in line with the practices and rules of the organisation. For example, the managers can ask the workers for their inputs over how to increase efficiency. Also, good suggestions can be rewarded
3. Espirit de Corps: This principle recommends that employees should work in unity with each other. They should work as a team. In other words, team spirit should be promoted by the manager. Each employee should have a sense of belongingness. This proves useful especially in large organisations where without team work, achievement of objectives would become difficult. Team sprit increases coordination and mutual understanding among the employees and thereby improves efficiency. 

Demonetization is a process of stripping a currency unit of its status as a legal tender. In simple words, demonetized notes are no longer valid as legal currency. Usually, a new currency replaces the old currency unit/s.