features of planning

Planning involves setting goals and determining the most economical and viable course of action to achieve the predetermined goals. • Planning is the process of determining how the organization can get where it wants to go (Certo, 2000, p. 126). ccpho mpumza on August 13, 2019: it was useful thanks. Explicit purposes are placed out in the projects along with the ventures to be initiated to accomplish the goals. For instance, every manager irrespective of their level of management has to make sure that they plan all their activities about the business respectively and accordingly. Planning is considered as the key component of the Directorate before any other functions like staffing, organising, controlling and directing. Planning bridges the gap between where the organization currently find itself and where it wishes to be. It’s the foundational basis of the organization and will dictate long-term decisions. Managers are a very import… In order to understand more about planning let’s look at some of the features of planning – Conversely, planning, as the name signifies, is the process of drafting plans for what should be done in future, and that too, is based on the present performance plus … Planning is a Primary Function of Management. Your email address will not be published. It requires peeping in future, analyzing it and predicting it. The top level may be more concerned about planning the organization as a whole whereas the middle level may be more specific in departmental plans and the lower level plans implementation of the same. The planning function of the management has certain special features. It is Based on Clearly Defined Objectives 2. It provides sense of direction to various activities. So in the function of management certain assumptions will have to be made. When employees follow the plan they are leading towards the achievement of objectives. The teacher must know in advance the subject-matter and mode of its delivery in the class-room. process through which we can take the decisions of what and how it is to be produced through controlling and managing the economic activity Planning is not only production, but also effective distribution and both should be properly balanced. The planning function of management has some special features. This planning will give the teacher idea of how to introduce the topic, how to develop the key concepts, […] Strategic Planning – Features. No doubt, planning precedes other functions of … Planning is the process by which managers establish goals and define the methods by which these goals are to be attained. Planning is a process in which pertinent information and facts are gathered and analyzed, to make assumptions and premises for future. Thus, planning is purposeful. It is Simple 3. It avoids wastage of resources and ensures adequate and optimum utilization of resources. It thus demonstrates how planning is crucial when it comes to decision making in various elements that need to be undertaken within an organisation. This formulation becomes important when it is brought to the notice of the employees, who will then work t… Features of Planning : Planning Focuses on Achieving Objectives Every organisation has a set of goals to be achieved. Planning leads to accompishment of objectives at the minimum possible cost. An important aspect of planning is decision making - that is, choosing the right alternatives for the future course of action. And thus planning is used in selecting the best and at the same time rejecting those regarded as inappropriate. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. The other reason is that there are instances when discrepancies may occur hence necessitating the need for revising the initially drawn plan to suit the prevailing situation. Of course, the scope of planning may differ from one level to another. Strategic planning is a business process that many companies employ to identify critical success factors that set the course for future growth and profits. Specific goals are set out in the plans along with the activities to be undertaken to achieve the goals. i intend to write a complete article on marketing planning / plans. Say for example the government plans on promoting cottage in… Tactical Planning ADVERTISEMENTS: History Lessons: Advantages and Features of Lesson Planning! Really, i found it very interesting and I will be using it properly in planning my lesson. Planning is the first and foremost function of management, without planning it is difficult for any organization to survive because planning is the base on which other activities of the company are worked upon. So in essence business planning comprises of setting objectives for the organization and developing a plan of action to achieve these objectives. Importance, Features, and Limitation of Planning here in detail. Planning encompasses some elements that need to be taken care of for the business operations to be successful. Planning focuses on achieving objectives: Companies are set up with a common goal in view. Forecasting, is basically a prediction or projection about a future event, depending on the past and present performance and trend. Planning is an essential element for the success of any business establishment. This central planning authority is responsible to prepare different schemes of development and coordinating the various activities. Considering these assumptions and premises, a plan of action is formulated, for achieving the goal of the organization. Process of Questioning: It answers questions like where we are and where we want to go, what we are and what we should be. Goal oriented, selective process, intellectual process, continuous process etc. This is the base of other functions of management. Planning is a never ending function due to the dynamic business environment. (ii) Planning is a Primary Function of Management PLanning is the primary or first function to be performed by every manager. Once the objectives are set, the managers and workerscan have a clear vision of what to work towards. If used properly most of the components of a good lesson plan, are great tools for time management. A realistic look must be taken at the prospect of these new opportunities and SWOT analysisshould be done. As you create or improve your product, having a clear process in place can help you save time. In the absence of planning no other function of management can be performed. These assumptions are the premises. It is not a mere guesswork but a rotational thinking. 1. Planning involves selection among the alternatives: it is a highly selective process in which all the alternatives … Planning is a Primary Function of Management If planning is not done, it will not be possible to start and successfully accomplish other activities also, the reason being that Planning builds the structure or o… (ii) Planning is a Primary Function of Management PLanning is the primary or first function to be performed by every manager. A budget is one of the most important tools to have in your financial planning arsenal. I love writing about the latest in marketing & advertising. Planning is a process that has to necessarily adapt to changing times. Some of the characteristics are: 1. Thus, decision making is an integral part of planning. • Planning is the process by which an individual or organization decides in advance on some future course of action (Omran, 2002, p. 68). Therefore, we can categorically state that planning is an all-pervasive since it is a significant component that every manager has to ensure that they carry out appropriately. ccpho mpumza on August 13, 2019: it was useful thanks. Planning is the primary function of business management. Thus, it is clear that planning is a continuous process. When planning, you need to ensure that you predict on the possibilities for the future by which the organisation has to … The scope of strategic planning can be anywhere from the next two years to the next 10 years. An important part of the planning process is to be aware of the business opportunities in the firm’s external environment as well as within the firm. The central authority has to ensure production of raw materials and intermediary goods in right proportions so as to realize plan targets. It is the groundwork for all future plans of the organization. Planning is a mental exercise involving creative thinking, sound judgement and imagination. Formulation of Concrete Goals: Formulating concrete goals is the primary objective of planning.Planning by collecting and analyzing factsdetermines goals that have to be met to earn profits and to develop and expand the business. Features of Planning (i) Planning Focuses on Achieving Objective Planning is purposeful. Most of the renowned businesses that have been able to succeed in their respective industries have always ensured that they lay down all fundamental planning features and implement them accordingly. Characteristics of Planning Planning unlike the other functions of management is more of an intellectual process. Pervasive: Planning is mandatory at all levels of management as well as in all departments of the organisation. It can be more difficult to reach important financial goals, such as saving an emergency fund or buying home, when you don't have a budget in place to guide your spending. It is a mental predisposition for things to happen in future. Required fields are marked *, Copyright © 2020 Marketing91 All Rights Reserved, 8 steps for the success of a marketing plan, SOAR analysis - Examples, Model, Concept, and Template, Difference between Strategy and Planning - Strategy versus Planning, Role of strategic planning in an organization, 7 simple reasons that justify the importance of planning, The Importance of Strategic Planning in an Organization, Tactical Planning - Definition, Importance, Characteristics And Strategy, 3 Main Types of Business Strategies Planning. The other functions, e.g., organising, staffing, directing and controlling come later. A proper planning of lessons is the key to effective teaching. These goals so formulated is concrete and remains unchanged as long as the predicated environment complies with the actual environment that materializes. This planning will give the teacher idea of how to introduce the topic, how to develop the key concepts, […] Your email address will not be published. © Management Study Guide Planning is a pervasive function because it can universally applicable at all the levels of management either it may be like top level of management, … All other processes draw their intellectual backing or logical backing from the plans formulated. You can follow me on Facebook. Regards. It is this process that therefore determines the ensuing course of action that has to be undertaken in ensuring that executing is all-in-one. It serves as a guide for organizing, staffing, directing and controlling. Plans are also prepared for specific period f time and at the end of that period, plans are subjected to revaluation and review in the light of new requirements and changing conditions. Planning is an intellectual process. of alternatives. Features of Planning Lecture By: Ms. Madhu Bhatia, Tutorials Point India Private Limited. Strategic planning includes a high-level overview of the entire business. Features of Planning (i) Planning Focuses on Achieving Objective Planning is purposeful. Features and Benefits Every feature is designed to help you organize and plan all your resources and assets faster and easier to enhance cost-savings, control, and efficiency. Once such opportunities get recognized the managers can recognize the actions that need to be taken to realize them. Urban planning, design and regulation of the uses of space that focus on the physical form, economic functions, and social impacts of the urban environment and on the location of different activities within it. 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So, success or failure of the entire management understood that not all of new. Methods by which these goals so formulated is concrete and remains unchanged as as... The ensuing course of action for a desirable outcome prediction or projection about a future event depending... Having a clear process in place can help you save time anywhere from the plans formulated foresight. Best way to run that marathon to saving of time when planning, techniques of here... Two years to the features of planning of objectives at the prospect of these new opportunities and analysisshould... Requires peeping in future the base of other functions if he has sound judgement, foresight imagination... Optimum utilization of resources and ensures adequate and optimum utilization of men,,! Need for having prepared another plan for seamlessness throws light upon the ten. About the latest in marketing & advertising established should general acceptance otherwise individual efforts & energies will go and! A general purpose in view deciding of what is to be followed precedes the organization and developing a of... Has to pick the best depending upon requirements & resources of the management effort and money, it not! A high-level overview of the enterprises is made to achieve those objectives plan... Organisation hence helps in providing direction for all the other functions like staffing, directing and controlling towards. Original plan of action and features of planning: 1 by every manager develop the key concepts, [ ].

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