InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
Explain any three points of importance of Planning. |
|
Answer» Importance of planning : Increases efficiency: Planning makes optimum utilization of all available resources. It helps to reduce wastage of valuable resources and avoids their duplication. It aims to give the highest returns at the lowest possible cost. Therefore, it increases the overall efficiency. Reduces business-related risks: There are many risks involved in a business. Planning helps to forecast these business-related risks. It also helps to take the necessary precautions to avoid these risks and prepare for future uncertainties in advance. Therefore, it reduces business risks. Facilitates proper coordination : The plans of all departments of an organization are well coordinated with each other. Similarly, the short-term, medium-term and longterm plans of an organization are also coordinated with each other. Such proper coordination is possible only because of efficient planning. |
|