Describe the steps involved in the planning process. How does effective planning contribute to the success of an organization?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Describe the steps involved in the planning process. How does effective planning contribute to the success of an organization?

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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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