What Is the Importance of Planning in Management?

Answer

Planning refers to the process of setting goals, developing strategies and outlining tasks and schedules to accomplish the goals and also help in deciding objectives both in quantitative and qualitative terms. In the management world planning is vital in that it helps to clarify, focus and research the project's development and prospects, it also provides a logical framework within which a business can develop and pursue business strategies over the next five years or more and planning also provides a benchmark against which actual performance can be measured and reviewed
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