Question

characteristics of planning

Answer 1

Planning is made to achieve desired objective of business. ... Planning identifies the action that would lead to desired goals quickly & economically. It provides sense of direction to various activities. E.g.

Answer 2

Planning is a mental exercise involving creative thinking, sound judgement and imagination. It is not a mere guesswork but a rotational thinking. A manager can prepare sound plans only if he has soundjudgement, foresight and imagination. Planning is always based on goals, facts and considered estimates.
Planning is made to achieve desired objective of business.

The goals established should general acceptance otherwise individual efforts & energies will go misguided and misdirected.

Planning identifies the action that would lead to desired goals quickly & economically.

It provides sense of direction to various activities. E.g. Maruti Udhyog is trying to capture once again Indian Car Market by launching diesel models.