Herbert Simon’s “Bounded Rationality” – we can’t know everything, so we “satisfice” (choose good enough).
An effective slide presentation should visualize the planning process as a sequential, circular flow. Managers must systematically move through these six critical steps to ensure success. principles of management unit 2 ppt
Frederick Taylor’s focus on the "one best way" to perform a job through time and motion studies. and controlling. Without a plan
Scanning the internal and external environment (using tools like SWOT or PESTLE analysis). an organization lacks direction
Planning is the foundational function of management. It precedes organizing, staffing, directing, and controlling. Without a plan, an organization lacks direction, making it impossible to allocate resources efficiently or measure success accurately. What is Planning?
Analyzing each option against cost, risk, profitability, and resource availability constraints.