What is the managerial value of formally written plans, as opposed to verbal commitments?

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter9: The Strategic Management Process: Achieving And Sustaining Competitive Advantage
Section9.5: Planning Firm Actions To Implement Strategies
Problem 1CC: What are the three levels of planning, and what kinds of plans do managers develop at each level?
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What is the managerial value of formally written plans, as opposed to verbal commitments?
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