1.

Explain the relation between planning and controlling.

Answer»

Planning is a systematic and intellectual method to achieve objectives. Planning clarifies the reason as to why specific activities will be needed to be done in the future.

  • Planning also outlines when and in how much time will the decided activities be completed and for that what resources will be needed so that goals can be achieved.
  • On the other hand, control is a process to monitor whether business activities are carried out according to the plan, set standards and given instructions. If deviations are found, then corrective actions are taken.
  • Whenever there is planning there is controlling and conversely whenever there is controlling planning pre-exists.Thus planning and controlling are interrelated.


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