Read the following passage and answer the question.
Management is the process of planning, organising, staffing, directing and controlling the enterprise resources efficiently and effectively for achieving the goals of the organisation. Effectiveness in Management is concerned with doing the right task, completing activities, and achieving goals. Efficiency means doing the task correctly with minimum cost.
................implies setting goals in advance and developing a way of achieving them efficiently and effectively.
Answer & explanation
Correct answer: option 3
The correct answer is option 3- Planning.
Planning implies setting goals in advance and developing a way of achieving them efficiently and effectively.
The management principle that implies setting goals in advance and developing a way of achieving them efficiently and effectively is planning. Planning is the process of determining what to do, when to do it, and how to do it in order to achieve a desired goal. It is the first and most important function of management, as it provides a framework for all other management activities.