Answer

Planning is a process of deciding in advance what should be done, by whom, when and how to achieve the desired goals. It is both an organisational necessity and managerial responsibility as it helps in formulating goals and strategies, allocating resources and setting up plans for future operations.

Planning as an Organisational Necessity

Planning is an organisational necessity as it helps the organisation to set goals and objectives and make effective decisions to achieve them. It helps in understanding the organisation’s environment, identifying opportunities, reducing the risks of failure and adapting to changes. Planning enables the organisation to focus on its core competencies, develop strategies and allocate resources accordingly.

Planning as a Managerial Responsibility

Planning is a managerial responsibility as it enables the manager to set goals, develop plans and strategies, allocate resources and coordinate the efforts of employees to achieve the desired goals. It helps the managers to take appropriate actions to deal with the changing environment, make decisions, monitor progress and take corrective actions if needed.

Planning and its Benefits

Planning helps the organisation to identify the desired goals and objectives and make effective decisions to achieve them. It helps in focusing on the core competencies, developing strategies and allocating resources effectively. It also helps in understanding the environment, identifying opportunities, reducing risks and adapting to changes. Planning also enables the managers to coordinate the efforts of the employees and make the best use of the available resources.

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