Planning
planning is deciding in advance what is to be done, when where, how and by whom it is to be done. Planning bridges the gap from where we are to where we want to go. It includes the selection of objectives, policies, procedures and programmes from among alternatives. A plan is a predetermined course of action to achieve a specified goal. It is an intellectual process characterized by thinking before doing. It is an attempt on the part of manager to anticipate the future in order to achieve better performance. Planning is the primary function of management.
According to Koontz and O’ Donnell, “Planning is an intellectual process, conscious determination of course of action, the basing of decision on purpose, facts and considered estimates.”
Nature / Characteristics of Planning
According to Billy E. Goetz, “Plans cannot make an enterprise successful. Action is required, the enterprise must operate managerial planning seeks to achieve a consistent, coordinated structure of operations focused on desired trends. Without plans, action must become merely activity producing nothing but chaos.
Planning is an Intellectual Process-Planning is an intellectual process of thinking in advance
Planning Contributes to the Objectives--Planning contributes positively in attaining the objectives of the business enterprise.
Planning is a Primary Function of Management-It is primary requisite before other managerial functions step in. But all functions are inter-connected.
A continuous Process-Planning is a continuous process and a never ending activity of a manager.Therefore, the manager has to go on modifying revising and adjusting plans in the light of changing circumstances
Importance & Advantages of Planning
planning is deciding in advance what is to be done, when where, how and by whom it is to be done. Planning bridges the gap from where we are to where we want to go. It includes the selection of objectives, policies, procedures and programmes from among alternatives. A plan is a predetermined course of action to achieve a specified goal. It is an intellectual process characterized by thinking before doing. It is an attempt on the part of manager to anticipate the future in order to achieve better performance. Planning is the primary function of management.
According to Koontz and O’ Donnell, “Planning is an intellectual process, conscious determination of course of action, the basing of decision on purpose, facts and considered estimates.”
Nature / Characteristics of Planning
According to Billy E. Goetz, “Plans cannot make an enterprise successful. Action is required, the enterprise must operate managerial planning seeks to achieve a consistent, coordinated structure of operations focused on desired trends. Without plans, action must become merely activity producing nothing but chaos.
Planning is an Intellectual Process-Planning is an intellectual process of thinking in advance
Planning Contributes to the Objectives--Planning contributes positively in attaining the objectives of the business enterprise.
Planning is a Primary Function of Management-It is primary requisite before other managerial functions step in. But all functions are inter-connected.
A continuous Process-Planning is a continuous process and a never ending activity of a manager.Therefore, the manager has to go on modifying revising and adjusting plans in the light of changing circumstances
Importance & Advantages of Planning
- Reduction of Uncertainty
- Better Utilization of Resources
- Increases Organizational Effectiveness
- Reduces the Cost of Performance
- Concentration on Objectives
- Makes Control Effective
- Helps in Co-ordination
- Increase in Competitive Strength
- Encouragement to Innovation
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