Question

Planning is of vital importance in the managerial process. Give any four reasons to support this statement.

Answer 1

1. Planning provides direction: Planning establishes distinct goals that drive subsequent actions. Planning provides direction by specifying how work will be done ahead of time.
2. Planning reduces the risk of uncertainty: Planning allows a manager to anticipate change. It assists management in anticipating and preparing for future risks, enabling them to make required arrangements in case of unexpected situations.
3. Planning reduces overlapping and wasteful activities: Planning promotes clarity and efficiency, allowing for uninterrupted workflow. Reduce unnecessary or redundant activities. It is easier to detect and eliminate inefficiencies. This prevents confusion and misunderstanding.
4. Planning promotes innovative ideas: The manager develops a notion of how to work on a certain task and seeks out better ideas, methods, or procedures to attain the goal. Innovative ideas promote corporate growth and profitability.