Q3. Give the definition and importance of planning in an organisation and explain the steps in planning. (Definition of planning, Explanation of the importance of planning, List the steps in planning, Explanation of the steps in planning) 2, 3, 1, 4
Answer: Definition and Importance of Planning
Planning can be defined as a basic management function which enables one to select the purpose of the business, and how the resources should be mustered to achieve that purpose to include using the available resources optimally to do that. Planning implies goal setting for the organisation keeping in mind the constraints,
