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Planning — Business Studies STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesPlanning6 Marks
Question
Explain how does planning help reducing uncertainties?
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Answer

Planning is necessary because of future uncertainty and change. One cannot be certain about future events. However, by forcing managers to look ahead, anticipate change, consider the impact of change, and develop appropriate responses, planning reduces uncertainty. Longer the period of planning greater is the possibility of such uncertainties.

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