The Essence of Planning in Management

Effective planning is essential in all aspects of life and serves as the cornerstone of successful management. It involves intellectual processes, coordination, and setting objectives to achieve desired results. This comprehensive guide explores the meaning, definition, characteristics, objectives, and nature of planning in organizations.

• Planning
• Management
• Objectives
• Coordination
• Organization

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1. BON SECOURS ARTS & SCIENCE COLLEGE FOR WOMEN MANNARGUDI PLANNING By SUBA.C M.Com,M.Phill,B.Ed., Asst.Professor BON SECOURS ARTS & SCIENCE COLLEGE FOR WOMEN MANNARGUDI

2. Introduction Planningisessentialineverywalkoflife.Eachandeveryperson hastoframeaplantorecedeinhisactivities.Theplanperiodmay beshortorlong.Planningisthefirstandforemostfunctionof management. Effectiveplanningfacilitatesearlyachievementofobjectives,which dependsupontheefficiencyoftheplanner.Aplannercandevelop hisefficiencybypreparinghimselftofacethefunctional developments.

3. MeaningofPlanning Planningisanintellectualprocessofthinkingresortedtodeicide acourseofactionwhichhelpsachievethepredeterminedobjectives oftheorganizationfuture.Separateplansarepreparedforvarious departments,andthenthetopexecutivesoftheorganizationtake stepstocoordinatethevariousdepartmentalplans.

4. Definition Therearevariousdefinitionsbyvariouseminentwritersinthe fieldofmanagement.ButinnutshellTerryhasrightlysaidthat Planning is theselectingandrelatingoffactsandthemakingand usingofassumptionsregardingthefutureinthevisualizationand formulationsofproposedactivitiesbelievednecessarytoachieve desiredresults.

5. CharacteristicsofPlanning Planningislookingintothefuture. Involvespredeterminedlineofaction. Itdiscoversthebestalternativeoutofavailablemanyalternatives. Itrequiresconsiderabletimeformimplementation. Itisacontinuousprocess. Itsobjectistoachievepredeterminedobjectivesinabetterway.

6. Cont Itintegratesvariousactivitiesoforganization Itisdoneforaspecificperiod. Itnotonlyselectstheobjectivesbutalsodevelopspolicies,programsand procedurestoachievetheobjectives. Itisrequiredatalllevelsofmanagement. Itisaninterdependentprocesswhichcoordinatesthevariousbusinessactivities. Itdirectsthemembersoftheorganization Growthandprosperityofanyorganizationdependsuponplanning

7. ObjectivesofPlanning Reduces uncertainty Brings cooperation and coordination Anticipates unpredictable contingencies PLANNING Economyin operation Reduce competition Achievingthe predetermined goals

8. NatureofPlanning Economyandcertaintyareconsideredwhileselectingthebest alternativeamongtheavailableones. Thenatureofplanningisasbelowthatisselfexplanatory. PrimaryFunction Planningcontributestoobjectives Planningisanintellectualactivity Planningresultsinhigherefficiency Planningisacontinuousprocess

9. Cont. Planningisflexible unityandconsistency Planningiscommontoall Basisforallmanagerialfunctions Gettingcoordination Consideringlimitingfactors

10. PlanningVs.Forecasting Rememberplanningisnotforecasting.Forecastingisguessingof thefuturecourseofeventscorrectly,whereasplanningisawider termthatincludesforecastinganditispartofplanningandisbased onthepastexperience.

11. ImportanceofPlanning Throughplanningobjectivesareachievedandanticipatesthe achievedwellinadvance.Defectiveplanningleadstofailureofthe organization.Effectiveplanningcananticipatetheuncertainevents andhelppreparetheworkforcetomeetthesituationtosurvive. Planninghelpsthebusinessmangetearlysuccess.

12. Importance Importanceof ofPlanning Planning Tacklingincreasingcomplexitiesof business To manage by objectives Convert uncertaintyinto certainty resources Effective control Helpinco ordination Avoiding business failures Economy in operation

13. AdvantagesofPlanning Betterutilizationofresources Helpsinachievingobjectives Cooperation Promotegrowthand improvement Economyinoperation Developsrationalityamong management executives Minimizesfutureuncertainties Preventshastyjudgment Improvescompetitivestrength Reducesred tapism Effectivecontrol Encouragesinnovativethought Motivation

14. Cont Improvesabilitytocopewithchange Createsforwardlookingattitudein management Developmentofefficientmethods Delegationofauthorityfacilitated Anticipationofcrisis

15. Stepsofplanningprocess Securingparticipationofemployees Analysisofexternal Environment Formulationofaction programs Determining secondary plans Followupandevaluation Analysisofinternal environment Establishingthe sequenceofactivities Securingparticipationof employees Determination of Objectives Selection alternativecourseofaction of the best Determiningplanning premisesandconstraints Weighingalternative courseofaction Examinationofalternative Coursesofaction

16. MethodsofPlanning Objectiveplans Standingplans Masterplans

17. LimitationsofPlanning Falsesenseofsecurity Inflexibility Limitationofforecasts Delayduringemergencyperiod Unsuitability CapitalInvestment Timeconsuming Politicalclimate Costly Tradeunions Mentalability Technologicalchanges

18. ObstaclesofPlanning Unreliabilityofforecasts Recurrenceofsametypeofproblems Expensive Lossofinitiative