Planning improves focus and flexibility. Focus and flexibility are important to the performance of both people and organizations in highly competitive and dynamic
environments.
Planning improves action orientation. Planning keeps people and organizations
focused on the actions that are needed to stay competitive and to become better at what they are doing. Planning helps make people and organizations more
oriented toward results, priorities, advantages, and change.
Planning improves coordination. Planning helps individuals, groups, and subsystems within organizations make meaningful contributions to the organization as a whole, even as they pursue their specific tasks and objectives.
Planning improves control. Planning facilitates control by defining objectives and desired performance results, and identifying specific actions through which they are to be pursued.
Planning improves
time management. Each day, managers are bombarded by a multitude of tasks and demands. They work in a setting of frequent interruptions, crises, and unexpected events. Consequently, it can be easy to lose track of objectives and fall prey to "time wasters."
Which of the following types of budget plot anticipated sales or revenues against expenses?
Term Planning | Definition the process of setting objectives and determining how to accomplish them. |
Term Operating Budgets | Definition Plot anticipated sales or revenues against expenses. |
Term Non-Monetary Budget | Definition allocate resources such as labor, equipment, and space. |