Planning

Planning is an essential process that organizations undertake to achieve their objectives. It is an ongoing process that involves identifying goals, objectives, and courses of action to achieve them. Effective planning enables organizations to prepare for future uncertainties, allocate resources efficiently, and respond to changes in the environment.

Continuous Process

Planning is a continuous process that involves a series of steps that organizations undertake to achieve their goals. It is not a one-time activity but a long-term process that requires constant evaluation and monitoring. Planning helps organizations to adapt to changes in the environment and adjust their strategies accordingly.

Focus on Achieving Objectives

The primary focus of planning is to achieve organizational objectives. The process involves defining goals, developing strategies, and allocating resources to achieve them. Effective planning aligns organizational goals with individual and departmental goals to ensure that everyone is working towards the same objectives.

Futuristic

Planning is a futuristic activity that involves anticipating future events and taking proactive measures to address them. It is essential to prepare for the future to avoid potential risks and take advantage of future opportunities. Planning helps organizations to anticipate and prepare for changes in the environment and adjust their strategies accordingly.

Reduces Profitability

Planning does not reduce profitability; instead, it helps organizations to maximize profitability by identifying opportunities and allocating resources efficiently. Effective planning enables organizations to identify potential risks and take proactive measures to mitigate them, reducing the likelihood of losses.

In conclusion, the correct option is (C) Planning does not reduce profitability. Planning is an ongoing process that focuses on achieving objectives, is futuristic, and helps organizations to maximize profitability. Effective planning enables organizations to prepare for future uncertainties, allocate resources efficiently, and respond to changes in the environment.