What do you understand by planning? Mention the basic steps involved in designing a control process. Cite examples.
Planning is a fundamental function of management that involves setting objectives and determining the course of action required to achieve those objectives efficiently. It is the process of deciding in advance what needs to be done, how it will be done, and who will do it. Planning provides a roadmap for the organization, ensuring that efforts are directed towards desired outcomes and resources are utilized effectively.
Basic Steps Involved in Designing a Control Process:
1. Establishing Standards: The first step in designing a control process is to establish standards against which actual performance can be compared. Standards may be quantitative, such as sales targets, production quotas, or financial benchmarks, or qualitative, such as customer satisfaction ______ ________ _______ __________ __________ __________ ______ __________ _____.
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