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Answer» Importance of planning: - Planning is the foundation of any business and an outline for its future. It is necessary in each and every field.
- Hence, government, private sector and all other sectors make plans for their activities.
- Considering the importance of planning, the Central Government of India has formed the planning commission which plans the various activities for India.
Following are some of the importance planning: - Planning helps to perform all activities systematically.
- Wastage of resources can be avoided.
- Planning reduces future uncertainties.
- Planning leads to precision.
- It is useful for accomplishing objectives.
- Planning also brings smoothness in other managerial functions.
- Planning increases co-operation among employees.
- It enables effective control over the activities and unit.
- Planning co-ordinates various activities.
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