PLANNING It is the process of setting objectives and targets for a given time period and formulating an action plan to achieve them effectively and efficiently. It concerns itself With both ends and means that is what is to be done and how it is to be done.
FEATURES OF PLANNING
1) Planning Focuses on Achieving Objectives:
Management begins with planning and planning begins with the determining of objectives. In the absence of objectives no organisation can ever be thought about. With the determining of objective, the way to achieve the objective is decided in the planning.
(2) Planning is Primary Function of Management:
Planning is the first important function of management. The other functions, e.g., organising, staffing, directing and controlling come later. In the absence of planning no other function of management can be performed.
(3) Planning is Pervasive:
Since the job of planning is performed by the managers at different levels working in the enterprise, it is appropriate to call it all-pervasive. Planning is an important function of every manager; he may be a managing director of the organisation or a foreman in a factory.
(4) Planning is Continuous:
Planning is a continuous process for the following reasons:
(a) Plans are prepared for a particular period. Hence, there is need for a new plan after the expiry of that period.
(b) In case of any discrepancy plans are to be revised.
(c) In case of rapid changes in the business environment plans are to be revised.
5) Planning is Futuristic:
Planning decides the plan of action what is to be done, how is it to be done, when it to be done, by whom is it to be done all these questions are related to future. Under planning, answers to these questions are found out.
) Planning Involves Decision Making:
Planning becomes a necessity when there are many alternatives to do a job. A planner chooses the most appropriate alternative. Therefore, it can be asserted that planning is a process of selecting the best and rejecting the inappropriate. It is, therefore, observed that planning involves decision making.
(7) Planning is a Mental Exercise:
Planning is known as a mental exercise as it is related to thinking before doing something. A planner has mainly to think about the following questions:
(i) What to do? (ii) How to do it? (iii) When to do it? (iv) Who is to do it?