Question

44. Planning involves setting targets and predicting
future conditions, thus helping in making a choice.
Which importance of planning is highlighted in the
above statement?
(a) Planning provides direction
(b) Planning recues overlapping and wasteful
activities
Planning reduces the risk of uncertainty
(d) Planning facilitates decision making​

Answer 1

Answer:

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Explanation:

Answer 2

The correct option is (d) Planning facilitates decision making​

• It is a conceptual activity assisting a firm in thinking ahead and setting goals for the future.
• The information that management requires to make educated decisions about how to allocate resources so that the firm may accomplish its objectives is included in planning.
• There must be a constant review and scope for regular improvement while executing the plan. This strategy helps focus on how things are done to ensure timely completion of the plan and adherence to firm's goals.
• A sound decision requires using good judgment, which is why it is more successful. Even if it is a small or large firm, decision-making is an ongoing process for every firm