GENERAL KNOWLEDGE

Detailed explanation-1: -For any business activity, planning is a prerequisite for doing anything and also to ensure the proper utilisation of the resources of the business concern to achieve the desired goals.

Detailed explanation-2: -Planning: is the function of management that involves setting objectives and determining a course of action for achieving those objectives.

Detailed explanation-3: -At the most fundamental level, management is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading and controlling. These five functions are part of a body of practices and theories on how to be a successful manager.

Detailed explanation-4: -Managers must first plan, then organize according to that plan, lead others to work towards the plan, and finally evaluate the effectiveness of the plan. These four functions must be performed properly and, when done well, become the reason for organizational success.