Explain the following terms/concept.
Planning
Solution:
Planning is the basic function of management. Every function of management is based on planning. It includes deciding the things to be done in advance. Planning is an intellectual process of logical thinking and rational decision making. It focuses on the organization's objectives and develops various courses of action. Designing proper planning and implementing accordingly is the key to achieving the objectives of an organization.
In short, planning is a detailed program of future courses of action.
OCM [Organisation of Commerce and Management] Business Studies, XII 12th Standard,
HSC OCM MARCH 2020 BOARD PAPER WITH COMPLETE SOLUTION OMTEX CLASSES
Balbharati Solutions for Organisation of Commerce and Management (OC) 12th Standard HSC Maharashtra State Board
Chapter 1: Principles of Management
Chapter 2: Functions of Management
Chapter 3: Entrepreneurship Development
Chapter 5: Emerging Modes of Business
Chapter 6: Social Responsibilities of Business
Chapter 7: Consumer Protection
