Abstract:
Planning and control are put in place to keep organization on
course towards profitability goals and achievement of its mission
and to minimize
surprise along the way. They enable
management to deal with rapidly
changing economic and
competitive .environme
nt, shifting customer demands and priorities
and restructuring for future growth. Planning is a management
function that denotes .the process of thinking about and
organizing the
activities required to achieve desired goals.
Control on the other hand
promote efficiency, reduce risk of
asset loss and help to ensure the reliability
of financial
statements and compliance with laws and regulations.
