Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question
Describe the steps involved in the planning process. How does effective planning contribute to the success of an organization?
Expert Solution
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Step 1: Define the term planning process.
The planning process refers to a methodical and systematized approach used by individualities, associations, or groups to define their objects, set pretensions, develop strategies, and outline the way necessary to achieve asked issues. It's a abecedarian operation and decision- making function that helps guide conduct and allocate coffers efficiently.
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