Step 1: Understand the role of planning.
Planning is a necessary function in management that helps in setting objectives, allocating resources, and ensuring that the organization moves in the right direction.
Step 2: Evaluate the options.
- Planning is necessary to ensure the efficient use of resources and the achievement of organizational goals.
- It is not unnecessary, as proper planning is crucial for any organization's success.
- It does not waste time or money but instead provides a structured approach for achieving goals.
Step 3: Conclude.
Planning is a vital and necessary part of the management process.
Final Answer:
\[
\boxed{\text{Necessary}}
\]