Planning — Chapter Summary

Planning means deciding in advance what

Planning means deciding in advance what to do and how to do it. It involves setting objectives, developing courses of action, and selecting the best a

Planning provides direction

Planning provides direction, reduces the risks of uncertainty, reduces overlapping and wasteful activities, promotes innovative ideas, facilitates dec

Planning focuses on achieving objectives

Planning focuses on achieving objectives, is a primary function of management, is pervasive at all levels, is continuous, is futuristic, involves deci

Planning leads to rigidity

Planning leads to rigidity, may not work well in a dynamic environment, reduces creativity, involves huge costs, takes time, and does not guarantee su

The planning process has seven steps

The planning process has seven steps: setting objectives, developing premises, identifying alternative courses of action, evaluating alternatives, sel