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Systematic planning precisely considers available & prospective resources of the organization to manage effective delineation, coordination, & execution.
Planning is amongst the primary functions of management. It is required practically at all levels of management. With the growing sizes of the organizations and increasing complexities in their structure, planning even becomes more crucial. Also, constantly changing and uncertain market further augments to the need for planning.
Planning involves the process of creating realistic goals to be achieved. Thus it makes a business goal oriented. The importance of being goal oriented is the fact that everyone knows what their end is and can work towards it. Planning thus becomes the basis of all other functions of management.