Question

In: Accounting

Thoughts on the followng statement? Do you agree or disagree? why? "As a practical matter, planning...

Thoughts on the followng statement? Do you agree or disagree? why?

"As a practical matter, planning and control mean precisely the same think".

Solutions

Expert Solution

I disagree.

Planning and contolling are not the same thing. Planning is the process of setting objectives and determining how to best accomplish them. It involves deciding on a course of action in advance. Control involves making sure that plans are actually taking place in practice and responding when things do not according to plan. Planning and controlling, though closely related, are two separate fuctions of management. Without the basis of planning, controlling activities becomes baseless and without controlling, planning becomes a meaningless exercise. Planning preceeds controlling and controlling succeeds planning. Activities are put on rails by planning and they are kept at right place through controlling. So both the functions are interlinked and interdependent as for successful execution of both the functions planning and controlling must support each other but they are not the same thing.


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