briefly explain short term planning. explain its advantages and disadvantages.
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Answer:
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Answer:
Planning is an important per-requisite for attaining the cherished goals of a business enterprise. Of all the managerial activities, it comes first because of the following benefits:
Explanation:
1. Planning leads to more effective and faster achievements in any organization.
2. Since planning foresees the future and also makes a provision for it, it gives an added strength to the business for its steady growth and continuous prosperity.
3. It secure unity of purpose, direction and effort by focusing attention on the objectives. Hence, unnecessary duplication, overlapping and cross-purpose workings are eliminated.
4. It has the effect of minimizing the cost of operations.
5. It ensures an even flow of work, minimizes false steps and protects against unwanted deviations.