Briefly discuss the folio wing significance of planning.
(i) Planning establishes standards for controlling.
(ii) Planning promotes innovative ideas.
(i) Planning establishes standards for controlling
Planning involves setting up of objectives, which act as the standards against which actual performance is measured. This helps in finding deviations and taking corrective action in the controlling process.
(ii) Planning promotes innovative ideas Planning is an intellectual process, which involves finding better ideas and methods to perform an activity. Thus, it helps in promoting innovative ideas.