Question

Using a practical example ,explain the difference between planning and decision making

Answer 1

Answer:

Planning managerial functions where managers are required to establish goals and state the ways and means by which these goals are to be attained.

Therefore planning is taken as the foundation for future activities.

Or in simple terms; planning is deciding in advance what is to be done. Planning is thinking of doing.

Answer 2

Planning:

Planning is the conscious determination of a future course of action to achieve the desired results. It is the process of thinking before doing. It depicts a framework within which other management functions will operate . It is a continuous process that takes place at all the levels of management.

planning consist of deciding in advance the following aspects:-

1. What is to be done in future ;
2. How is it to be done ;
3. Where it is to be done;
4. When it is to be done;
5. By whom it is to be done .

Decision Making:

Decision Making is a function which is involved in the process of planning. Decision Making is one of the subsidiary function which is involved in management.The right decision at the right time by the right person is essential for the success of any business. Management has to take numerous decisions in different situations. Right decision helps the management in the growth of a business. Moreover , appropriate decision making helps in the smooth running of the enterprise.

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