Planning means “Deciding what has to done, Who has to do, when it has to done, how it to be done, Where it has be done. Planning is an intellectual process, which requires anyone to think before acting. To plan one would need objective, goal, way to perform and means of to perform. Planning would satisfy below mentioned parameters;
- Contribution to accomplish purpose and objectives.
- Considered as prime activity before performing all process.
- Spread through all concerned areas, departments and people.
- Efficient in such a way that set target can be achieved in most economical way.
Why Planning is important?
If planning is improper then many business decisions or tasks or activity or goals will become difficult to achieve. Planning is very important because of the below mentioned factors:
- It helps in overcoming uncertain situations and cators and helps minimizing risks:Planning gives facts and process and ways to manager for making better, accurate and effective decisions. In developing countries because of changing social, economical factors, planning facilitates in better measure to adapt to uncertain and riskier circumstances, factors.
- Effective Control: Planning is done when goals and targets are clear and planning helps in achieving the set targets and goals. Achieving goals can be broken down to milestones, against which performance will be measured. Therefore good planning helps effective control of activities.
- More focus and concentration towards goal: Planning facilitates managers to be more focused toward goals and activities towards achieving the goals. This makes everyone who will be playing their part in execution of plan working towards achieving the set targets.
- More economic and surety towards success: Just planning doesn’t ensure success but effective execution leads towards success. More economical way of performing tasks because there will be no confusion and no deviation during actual execution.
Why do we plan?
Planning is first activity to start before beginning of any of the management functions. Reasons why to Plan is mentioned below:
- Prepare the base for budget.
- Foresee and forecast uncertainty and change the plan if required.
- Get effective control over the tasks performed and to reach to target.
- More focused towards objective and goals.
- Determine and opt for the alternative which better in terms of reaching to objectives and goals economically and effectively and efficiently.
Nature and Characteristics of Management:
Important characteristics of Management are as mentioned below:
- Management should be stable and firm.
- Application to all kinds of organization production, health care, medicinal, IT, Government sectors etc.
- Management must be transparent.
- Approaches should be clear and goal and objective oriented.
- Simple yet effective.
- Well defined goals and effective means to achieve set goals