Also explain any two points of importance of the function of management identified in (a) above.
Ans.
Two points of importance of the planning function of management identified in the paragraph are:
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Goal Setting:
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Planning involves establishing clear objectives or goals for the organization.
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Setting specific, measurable, achievable, relevant, and time-bound (SMART) goals helps to provide direction and purpose for organizational activities.
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By defining goals through planning, managers can align efforts, resources, and strategies towards achieving desired outcomes, enhancing organizational focus and effectiveness.
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Strategic Decision Making:
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Planning facilitates strategic decision-making by assessing current conditions, analyzing future trends, and identifying opportunities and threats.
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Through planning, managers evaluate alternative courses of action and select the most suitable strategies to pursue organizational objectives.
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Strategic decision-making enabled by planning helps organizations adapt to changing environments, capitalize on strengths, mitigate weaknesses, and stay competitive in the marketplace.
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