Question

Explain the following points of importance of planning:
(i) Planning provides directions
(ii) Planning reduces overlapping and wasteful activities
(iii) Planning establishes standards for controlling.

Hint:

Planning and Controlling are "Inseparable Twins." Planning sets the goal, and Controlling checks if the goal has been reached.

Answer 1

Step 1: Understanding the Concept:
Planning is the primary function of management that involves deciding in advance what is to be done and how it is to be done.
Step 2: Detailed Explanation:
1. Planning Provides Directions: By stating in advance how work is to be done, planning provides direction for action. It ensures that everyone in the organization knows what they are working toward.
2. Reduces Overlapping and Wasteful Activities: Since planning coordinates the efforts of different divisions and individuals, it helps in avoiding confusion and duplication of work. Wasteful activities are minimized by clarity of action.
3. Establishes Standards for Controlling: Planning provides the goals or standards against which actual performance is measured. Without planning, there would be no benchmark to check if the work is on track.
Step 3: Final Answer:
Planning is vital for providing a roadmap, ensuring efficiency, and enabling the evaluation of performance.