A major strength of formal planning is that it generally correlates with higher profits.

Question

Quizplus · Accepted Answer

Formal planning is a systematic and structured approach to setting goals, developing strategies, and allocating resources to achieve those goals. Research has shown that organizations that engage in formal planning tend to perform better financially and achieve higher profits compared to those that do not. Therefore, it can be said that a major strength of formal planning is its positive correlation with higher profits.

A Major Strength of Formal Planning Is That It Generally