The necessity of having Planning and how it helps organisations and various types of planning and their merits.

                                                                                                                   

MBA

Management Functions and Organisational Processes

ASSIGNMENT

 

Course Code: MMPC-001

Assignment Code: MMPC-001/TMA/JULY/2022 

Coverage : All Blocks

2. Discuss the necessity of having Planning and how it helps organisations. Describe various types of planning and their merits.

Planning is an essential function of management that involves the development of a roadmap or a blueprint for achieving the goals and objectives of an organisation. It is the process of setting objectives, formulating strategies, and establishing plans to coordinate and control activities towards achieving those objectives. 

Planning provides a direction for the organisation and helps it to stay ahead of its competitors. In this essay, we will discuss the necessity of having planning and how it helps organisations. We will also describe the various types of planning and their merits. Necessity of Planning Planning is necessary for every organisation, whether it is a small business or a large corporation. Without planning, organisations would be unable to achieve their goals, objectives, and mission. The following are some reasons why planning is essential:

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