Planning is the first function requiring managerial attention:
Planning is the first and fundamental function of management as it involves setting goals, objectives, and strategies for achieving them. It is the process of deciding in advance what needs to be done, how it will be done, and who will do it. Planning lays the foundation for the entire management process and serves as a roadmap for the organization.

Importance of Planning:
- Provides direction and purpose: Planning helps in defining the goals and objectives of the organization, which gives a sense of direction to all the activities.
- Minimizes risks: By anticipating future uncertainties and preparing for them, planning helps in minimizing risks and uncertainties.
- Optimum utilization of resources: Through planning, managers can determine the most efficient and effective way to utilize resources such as manpower, money, and materials.
- Coordination: Planning helps in coordinating various activities and departments within the organization to ensure that they work towards a common goal.

Role of Planning in the Management Process:
- Setting objectives: Planning involves setting specific, measurable, achievable, relevant, and time-bound objectives for the organization.
- Developing strategies: Managers develop strategies to achieve the set objectives by analyzing the internal and external environment.
- Budgeting: Planning also involves allocating resources in a budget to ensure that they are used efficiently.
- Forecasting: Managers forecast future trends and changes to adapt the organization's plans accordingly.
In conclusion, planning is the first function requiring managerial attention as it sets the direction for the organization and influences all other managerial functions such as organizing, directing, and controlling. Without proper planning, the organization may lack a clear purpose and direction, leading to inefficiency and ineffectiveness.

Planning is the first managerial function, as it involves setting objectives and determining the best course of action to achieve them, forming the foundation for all subsequent management activities.