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The management's function is to plan for the company's future based on shareholder expectations which are generally to make high profits in order to pay out high dividends. Therefore, management needs to strategize to maximize revenues and control costs. The management might also be concerned with its own purposes, so senior executives might let profitmaking slide in favor or taking out high salaries and fringe benefits for themselves.

It is said that "WELL PLAN IS HALF DONE". Planning is the basic and most crucial function of management.

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Q: What is the basis for saying that planning is the most crucial function of management?
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