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To meet the challenges of today’s demanding business world, managers and key leaders use the four functions of business: planning, organizing, leading, and controlling.
Planning is the foundation for the other functions as it lays the ground work for the initial ideas, goals, resources, and the overall means of achieving the goals. Managers use this formation of the plan to prepare for the future, predict future problems, and decide on actions to avoid problems and to beat the competition (Bateman & Snell 2007). Planning is the cornerstone of any business. It ensures the proper preparation for a business and leads to the success of the organization avoiding catastrophe and failure...
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