Planning is regarded as a forward looking function based on............
Answer & explanation
Correct answer: option 2
The correct answer is option 2- Forecasting.
Planning is regarded as a forward looking function based on forecasting.
Planning essentially involves looking ahead and preparing for the future. The purpose of planning is to meet future events effectively to the best advantage of an organisation. It implies peeping into the future, analysing it and predicting it. Planning is, therefore, regarded as a forward looking function based on forecasting. Through forecasting, future events and conditions are anticipated and plans are drawn accordingly.