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Explain the following terms/concept. Planning - Organisation of Commerce and Management

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Definition

Explain the following term/concept.

Planning

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Solution

Planning is the basic function of management. Every function of management is based on planning. It includes deciding the things to be done in advance. Planning is an intellectual process of logical thinking and rational decision making. It focuses on the organization's objectives and develops various courses of action. Designing proper planning and implementing accordingly is the key to achieving the objectives of an organization.
In short, planning is a detailed program of future courses of action.

Concept: Functions of Management - Planning
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