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Planning — Business Studies STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesPlanning3 Marks
Question
Define planning. List any two reasons why planning is essential.
✓

Answer

Definition of Planning: According to Koontz and O’Donnell, “Planning is deciding in advance what to do, how to do it, when to do it, and who is to do it.” In other words, planning refers to thinking before hand. It involves the anticipation of future course of even ts and give it a desired direction.
Importance of Planning: The following points clarify the importance of planning:
  1. Planning provides Direction.
  2. Planning reduces Risks of Uncertainty.

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