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Документ Planning as a function of management(2015) Kondratiuk, Svetlana; Trygub, InnaPlanning is a crucial component of business management, because of planning depends all further activities of the organization. So managers and executives must plan every aspect of their business, including marketing, budgeting, hiring, strategic positioning and making the business as profitable as possible. Management teams should meet frequently to discuss long-term goals and short-term plans to move toward those goals.