Question

State whether the following is True or False:

As a function of management, Planning increases the cost significantly as it involves research, analysis, and utilisation of manpower.

Answer 1

This statement is false. 

Explanation:

Planning’s main goal is to save costs by foreseeing possible issues and making more effective decisions, even though it does require research, analysis, and the use of labour. Long-term financial savings are achieved by streamlining processes and lowering unplanned expenses through planning.