Question

Explain the following points of importance of the 'Planning' function of management: (i) Planning facilitates decision-making. (ii) Planning…

Accepted Answer

• (a) (i) Planning facilitates decision making. Planning helps the manager to look into the future and make a • choice from amongst various alternative courses of action. The manager has to evaluate each alternative and select the most viable proposition. (ii) Planning establishes standards for controlling. • 18 Planning provides the goals or standards against which actual • performance is measured. By comparing actual performance with some standard, managers can know whether they have been able to attain the goals. If there is any deviation it can be corrected. OR • (b) (i) Planning focuses on achieving objectives: Specific goals are set out in the plans along with the activities • to be undertaken, to achieve the goals. Hence, planning contributes to the achievement of predetermined organizational goals. • (ii) Planning is continuous: A plan is framed, it is implemented, and is followed by another • plan, and so on. Thus it is continuous in nature. Plans are prepared for a specific period of time and at the end of that period a new plan is drawn on the basis of new requirements and future conditions.

Explain the following points of importance of the
'Planning' function of management :
(i)
Planning facilitates decision-making.
(ii)
Planning establishes standards for controlling.

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