Next-Push

Planning help an organization to setup a process, develop strategies to achieve its goal. In the management world planning helps to keep focus on the project's development and increase productivity.  The main importance/significance of planning is listed as follows: 1) Planning facilitates Decision making : - Decision making means the process of taking decision. Under it, a variety of alternatives are discovered and the best alternative is chosen. But it is important to determine the objectives before the discovery of alternatives. Objectives are determined under the process of planning. So. it can be said that planning facilitates decision making. 2) Planning helps in Increase efficiency : - Planning makes optimum utilization of all available resources. It helps to reduce wastage of important resources and avoids their duplication. It aims to give highest returns at the lowest possible cost. Planning thus increases the overall efficiency. 3)...

After understanding that management is a universal activity, we now examine some of the reasons that have made management so important: 1) Management helps in achieving group goals: Management helps in achieving the group goals by encourage initiative. The Manager should encourage group effort, coordinate, direct and control resources in such a manner that enterprise work towards achievement of pre-determined organizational goals. 2) Management Increase efficiency: The aim of Manager is to reduce cost and increase productivity through effectively utilization of all the physical & human resources. Management also encourages innovation in the organization. Innovation brings changes and makes the organization more efficient and competitive. 3) Management creates a dynamic organization: All Organization has to function in an environment which is constantly changing. With the change is external environment, the initial co-ordination of organization must be changed. Mana...