Explain the following statements related to the planning function of management:
Planning is closely connected with creativity and innovation
(a) Planning will be a futile exercise if it is not acted upon or implemented.
(mm) Planning is the most challenging activity for the management
() Planning is a pre-requisite for controlling.
() Planning is purposeful.
(v) Planning is not an exclusive function of top management.
Answers
Answer:
Planning
Explanation:
Planning means forecasting about the future so aa to achieve the organizational goals.The planning process is the steps a company takes to develop budgets to guide its future activities. The documents developed may include strategic plans, tactical plans, operating plans, and project plans.The steps in the planning process are Develop objectives. Develop tasks to meet those objectives.
Planning is closely connected with creativity and innovation
(a) Planning will be a futile exercise if it is not acted upon or implemented.
This means that planning process is practically not adopted by many organisations.
(b)Planning is the most challenging activity for the management.
Yes planning is one of the most challenging activities and specially if the company is planning for long term
Because you have no idea that what situation will be in future and therefore if the situation changes in future then our planning fails and we need to do planning again.
(c)Planning is a pre-requisite for controlling.Yes this statement for controlling because we can decide about controlling our expences and limiting our resources.
(d)Planning is purposeful.
Yes planning is purposeful because we need to do forecasting but we are planning to achieve the organizational goals which is our main purpose.
(e) Planning is not an exclusive function of top management.
No this statement is incorrect because planning is an exclusive function of Top Management.