CHAPTER 4
Planning
CHAPTER AT A GLANCE
Introduction
All businesses want to increase their sales, earn profits and be successful in their operations. All business managers strive to achieve these goals by proper planning what to do and how to do it.
Planning is a basic managerial function. Before taking any action, the manager must formulate an idea of how to complete a particular task with much creativity and innovation. This is the essence of planning.
Importance of Planning
- Planning provides direction: By defining in advance what is to be done, planning provides direction for action. Planning ensures that goals or objectives are clearly ...
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