GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Planning
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Organizing
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Implementing
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Controlling
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Detailed explanation-1: -Planning involves analyzing information, setting goals, and making decisions about what needs to be done.
Detailed explanation-2: -Short-term planning evaluates your progress in the present and creates an action plan to improve performance daily. However, long-term planning is a comprehensive framework that comprises of goals to be met within a four-to five-year period.
Detailed explanation-3: -What is Short Term Planning? In most business situations, short term planning aims for an immediate period, which is less than a one-year time frame. Short term objectives drive towards short term expectations such as new product development, improving cash flow, etc.
Detailed explanation-4: -Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives. Planning requires that managers be aware of environmental conditions facing their organization and forecast future conditions.