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Planning

Planning is the process of deciding what actions to take in the future to achieve specific objectives, serving as a foundational function of management. It is characterized by its focus on goal achievement, continuous nature, and the necessity of decision-making and foresight. The importance of planning includes providing direction, reducing uncertainty, minimizing waste, promoting innovation, facilitating decision-making, and establishing standards for control.

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5 views2 pages

Planning

Planning is the process of deciding what actions to take in the future to achieve specific objectives, serving as a foundational function of management. It is characterized by its focus on goal achievement, continuous nature, and the necessity of decision-making and foresight. The importance of planning includes providing direction, reducing uncertainty, minimizing waste, promoting innovation, facilitating decision-making, and establishing standards for control.

Uploaded by

palaritra422
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PLANNING

MEANING: Planning is deciding in the present, what is to be done in future. It involves


anticipation of future course of events and deciding the best course of action. Thus, it is
basically a process of thinking before doing. It bridges the gap between where we are and where
we want to go.
FEATURES OR CHARACTERISTICS OR NATURE OF PLANNING
1. Planning Focuses on Achieving Objectives: Specific goals are set out in the plans along
with the activities to be undertaken to achieve the goals. Planning has no meaning unless it
positively contributes for achievement of such predetermined goals.
2. Planning is a Primary Function of Management: Planning lays down the base for other
functions of management. All other managerial functions are performed within the framework
of the plans drawn.
3. Planning is Pervasive: Planning is required at all levels and in all departments of the
organisation. It is performed by all managers at various levels.
4. Planning is Continuous: Continuity of Planning is related with the planning cycle. It means
that a plan is framed; it is implemented and is followed by another plan and so on.
5. Planning is Futuristic: Planning aims to look into future, analyze it and predict it, to the
best advantage of an organisation. In short, planning involves thinking about the future for
doing actions in present.
6. Planning involves Decision-Making: Planning involves proper and careful analysis of
various alternatives and selecting the best possible alternative. Thus, decision-making is an
integral part of planning as it involves choice from various alternative courses of action.
7. Planning is a Mental Exercise: Planning requires application of mind, involving foresight,
intelligent imagination and sound judgment. Planning requires logical and systematic thinking
instead of guess work.

IMPORTANCE OF PLANNING
1. Planning Provides Directions: By stating the objectives in advance, planning provides
direction for action. In the absence of planning, employees would be working in different
directions and the organisation would not be able to achieve its desired goals.
2. Planning reduces the risks of Uncertainty: By deciding in advance the tasks to be
performed, planning helps to deal with changes and uncertain events. Planning makes an
earnest attempt to make uncertain future events certain, to certain extent.
3. Planning Reduces Overlapping and Wasteful Activities: Planning of different divisions,
departments and individuals coordinate the efforts. It helps in avoiding confusion,
misunderstanding and minimising useless activities.
4. Planning Promotes Innovative Ideas: While planning, many new ideas arise and it results
into creative, innovative and foresighted attitude among the managers. Such new ideas can take
the shape of concrete plans.
5. Planning Facilitates Decision-Making: The manager has to evaluate each alternative and
select the best one. Planning helps in taking rational decisions by setting targets and predicting
future conditions.
6. Planning Establishes Standards for Controlling: Planning provides standards against
which the actual performance is evaluated. Planning provides the basis of control, i.e.
controlling is not possible without planning.

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