GENERAL KNOWLEDGE

Detailed explanation-1: -Effective planning is less important to the success of a business than other management functions, such as organizing, implementing, and controlling. The results of strategic planning are goals and strategies that guide the entire business.

Detailed explanation-2: -In particular, planning helps to critically assess the goal to see if it’s realistic. It facilitates decision making and allows setting a time frame by predicting when the company can achieve its goal. It also defines how to measure performance against the set goals and whose responsibility it will be.

Detailed explanation-3: -Why is planning important? It helps us to identify our goals clearly. It makes us decide clearly and concretely what we need to do to have the effect on society that we want. It helps us make sure that we all understand our goal and what we need to do to reach it by involving everyone in the planning process.

Detailed explanation-4: -Planning is the most basic function of management. It is deciding in advance what to do and how to do when to do and by whom it is to be done. It bridges the gap between where we are and where we want to go.

Detailed explanation-5: -Accordingly, planning at lower level focuses on broad, long-term issues is not true concerning planning.