Question

meaning of planning and objectives ​

Answer 1

Answer:

Hope it helps!! Mark this answer as brainliest if u found it useful and follow me for quick and accurate answers...

Explanation:

Planning

Planning can be defined as “thinking in advance what is to be done when it is to be done, how it is to be done and by whom it should be done.”

According to Fayol, “Planning is chalking out plan of action, i.e., the result envisaged in the line of action to be followed, the stages to go through the methods to use.”

Objectives of Planning

(i) Planning Focuses on Achieving Objective Planning is purposeful. It has no meaning unless it contributes to the achievement of predetermined organisational goals.

(ii) Planning is a Primary Function of Management Planning is the primary or first function to be performed by every manager. No other function can be executed by the manager without performing planning function.

(iii) Planning is Pervasive Planning is essential for every sort of business activities. Every department whether, purchase, sales accounts, auditing, marketing etc needs systematic planning.

(iv) Planning is Continuous Planning is a never ending or continuous process because after making plans also one has to be in touch with the changes in changing environment and in the selection of one best way.

(v) Planning is Futuristic Planning always means looking ahead, it is never for the past. All the managers try to make predictions and assumptions for future.

(vi) Planning Involves Decision Making Planning choice making of the best possible alternative out of various alternatives.