Planning is the fundamental function of management. It is the process of deciding the objectives in the future and what to do in order to achieve those objectives. It is directly concerned with the future implication of current decisions.
Planning is the decision in advance what is to be done. When a manager plans , he projects a course of action for the future, attempting to achieve a consistent , coordinated structure of operation aimed at desired result.
Nature of planning
Planning is looking into the future and it includes forecasting decision making with one’s eye on the future . planning is thus , not simply an attempt to predict the future it is also an attempt to control it.
Planning precedes all other functions, it is a continuous thinking function, a project of crores of Rupees be given as nothing more than a dream in the mind of the planner.
Planning is the first function of management and it is followed by the other operator function of organising staffing, directing and controlling for which the planning process Lays down the objective policies, procedures , programs and rules.
planning is a conscious process of determining in advance the future course of action and to attain the predetermined objective efficiently and economically.
Planning is function of every manager and important role in every department and at every level of management
An activity Which has sufficient scope for advertisement and flexibility in accordance with the needs of changing situation and environment can be termed as a dynamic function, so is the planning function.
A manager has to plan before starting a new business. He has to plan When Everything changes and the need for planning arises even when he is to close down a project .
Important of planning
To focus attention on objectives
To minimise risk and uncertainty
To help in coordination
To ensure proper allocation and utilisation of resources
To economize in operations
To develop new products and technologies
To help in control
Principle of planning
Principle of meaningful objective
Principle of primacy of planning
Principle of planning premises
Principle of rational process reasonableReliance on experience
Principle of Communication
Adequate control technique
Principle of competing strategies
Principle of economy
What are the steps we measure during planning process
The steps in the planning process may differ from plan to plan and from organisation to organisation.
Preparation of opportunity
Collection of necessary information
Plans by budgeting
Establishing sequence of activities
Formulating derivative plans
Selecting the best possible alternative
Evaluation of alternatives
Identification of alternatives
What are the benefits we get from a strategic planning
Strategic planning serves a variety of purpose in organisation including to
Clearly define the purpose of the organisation Even to establish realistic goals and objectives consistent with the mission in a definite time frame within the organisation’s capacity for implementation.
Develop a sense of ownership of the plan
Ensure that the most effective use is made of organisations resources by focusing the resources on the key priority.
With Great Respect
Thank you for Reading