Question

What are the factors due to which we can say that planning is a very significant action despite of the gigantic costs

Options

• Renders Direction

• Subdued Risk

• Minimised Overlapping

• All of the above

Answer 1

All of the above

Explanation - 

The following are some of the highlighted aspects that lead us to believe that planning, despite its enormous costs, is a very important action.

1. Renders Direction : The goals and objectives that must be met are clearly stated in the planning. As a result, it serves as a guide for future activities. It gives direction to the activity of many departments inside the company. They advise the workers on what should be done, how to proceed, and how the goals should be met. It ensures that the path taken to achieve objectives is the proper one. Planning also ensures that the organization's many departments work together to attain the desired goals.
2. Subdued Risk : It empowers managers to analyse and predict changes by steering an organisation in the appropriate path. As a result, the probability of the expected events decreased. Planning demonstrates how to handle circumstances that may develop over the course of management, but it does not completely prevent problems.
3. Minimised Overlapping : Because the managers are well-versed in the organization's rules and plans, they coordinate the operations to achieve the goals. As a result, work overlap is reduced. Any resource waste that occurs as a result of repetition is also reduced. Proper planning guarantees that there are no misunderstandings and that the job runs well.