Explain How Business Planning Helps Managers in a Firm

question 153

Essay

Explain how business planning helps managers in a firm.

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Definitions:

Reduce Activity

Involves decreasing the level, intensity, or amount of work or operations, often aimed at improving efficiency or reducing costs.

Avoid Blame

A strategy or behavior engaged in by individuals or organizations to prevent or divert blame from themselves.

Consequences

The outcomes or results that follow from an action or decision, which can be positive, negative, or neutral.

Ethics

Systematic thinking about the moral consequences of decisions.