Define Planning In Business

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According to Weihrich and Koontz; “All managers, from presidents to first-level supervisors – plan.”Plans should not only be effective, but also efficient.

Two conceptual reasons supporting systematic planning by managers are limited resources and an uncertain environment.

Resource scarcity is a very important consideration for any organization today.

So planning will also define all the future functions of management.

We have already been introduced to five essential managerial functions, namely, planning, organizing, staffing, leading and controlling.

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