Final answer:
Determining objectives is the option that best describes a planning function as it sets the foundation for the direction and strategies of an organization.
Step-by-step explanation:
The best option that can be described as a planning function is b. Determining objectives. Planning is an essential managerial function, comprising of several elements like setting objectives, developing appropriate strategies, and outlining tasks and schedules to achieve the desired goals. Determining objectives is at the core of the planning process as it sets the foundation for the direction in which an organization needs to proceed.
For instance, a company sets the objective to increase its market share by 10% in the following year. Numerous strategies and actions would be planned around achieving this specific objective. In contrast, options such as monitoring operations, acquiring necessary resources, controlling inventory, and coordinating interdepartmental activities are typically considered to be part of the organizing or controlling functions, rather than the planning function.