Financial planning sets targets for managerial success

Steps:

• Identify the question: Focus on advantages of business financial planning.
• Review choices: Evaluate each for positive benefits versus drawbacks.
• Eliminate negatives: Discard options highlighting limitations like cost or expertise needs.
• Select positive: Choose the option that directly aids business operations.

Why C is correct:

• Financial plans establish measurable targets, aligning with goal-setting theory in management, which motivates managers to achieve specific objectives for organizational growth.

Why the others are wrong:

• A: This is a grammatical error and irrelevant; it doesn't state an advantage.
• B: Requiring specialist knowledge is a disadvantage, increasing complexity.
• D: Time and cost are drawbacks, not benefits, of the planning process.

Final answer: C