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Questions
Explain the following point of importance of the ‘Planning’ function of management:
Planning establishes standards for controlling
Explain the following point of importance of planning:
Planning establishes standards for controlling
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Solution 1
Planning establishes standards for controlling performance goals that are set by planning and used to monitor and manage actions. It helps you judge success and figure out what needs to be done to fix things.
Solution 2
Planning involves setting goals. The entire managerial process is concerned with accomplishing predetermined goals through planning, organising, staffing, directing and controlling. Planning provides the goals or standards against which actual performance is measured. By comparing actual performance with a standard, managers can determine whether they have attained the goals. If there is any deviation, it can be corrected. Therefore, we can say that planning is a prerequisite for controlling. If there were no goals and standards, then finding deviations, which are a part of controlling, would not be possible. The nature of the required corrective action depends on the extent of deviations from the standard. Therefore, planning provides the basis of control.
Notes
Student can refer to the provided solution based on their preferred question or marks.
