MANAGEMENT

Detailed explanation-1: -Planning determines in advance, what is to be done in the future. It helps us in knowing as to what we will have to perform in order to achieve the objectives. Various activities of different departments and divisions are carried on in an effective manner, thereby, reducing overlapping and wasteful activities.

Detailed explanation-2: -It increases the productivity of each of the smaller units subsequently resulting in better productivity of the overall plan.

Detailed explanation-3: -Business Efficiency Planning (BEP) works to align all functional areas around common business goals and enable and coordinate decision making to achieve the most efficient plan. To get there we need tools to help understand what decisions need to be made and when, and who needs to make them.

Detailed explanation-4: -In the planning process, it is important to: Formulate the strategies needed to achieve the vision and objectives. Determine and allocate resources necessary to achieve the vision and objectives. Set implementation plans to monitor and evaluate progress towards the vision and goals.

Detailed explanation-5: -Planning is time consuming is not a feature of planning.