PLANNING Planning Planning can be defined as thinking in advance what is to be done when it is to be done how to be done and by whom it should be done Planning bridges the gap between where we are standing today and where we want to reach Features of Planning 1 Planning contributes to objectives Planning contributes to objectives goal oriented up target and make sure the target goal is achieved 2 Planning is primary function of management Basic function or First function of management before carrying on other functions first planning is done 3 Pervasive Planning is done in business as well as non business organisations It is used everywhere It is required at all the level 4 Planning is futuristic forward looking Plans are made for future and involve thinking advance 5 Planning is continuous It is never ending on going process Start from beginning of organisation and continue till end 6 Planning involves decision making Planning involves choice whenever we select or choose one option from various that is planning 7 Planning is a mental exercise Planning is an intellectual task It involves brain storming highly qualified professionals are hired for planners job position Importance of Planning 1 Planning provides direction Focus on end result move and direct all the activities towards the achievement of goal 2 Planning reduces the risk of uncertainties Uncertainties do not come as a shock planning prepares the organisation to face the uncertainties 3 Planning reduces overlapping and wasteful activities With clear indication in plan what is to be done who will do it etc same work will not be done by two people therefore there would be no duplication of task 4 Planning promotes innovative ideas To make predictions and assumptions regarding future highly innovative thinking is required 5 Planning facilitates decision making Planners check the pros and cons of all options and then take a decision 6 Planning establishes standard for controlling The base or yardstick or the standard for comparing actual performance in controlling is given by planning Limitation of Planning 1 Planning leads to rigidity 2 Planning may not work in dynamic environment 3 It reduces creativity 4 Planning involves huge cost 5 It is a time consuming process 6 Planning does not give guarantee success 7 Lack of accuracy
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