Business Studies, asked by Anonymous, 1 year ago

What are the features of planning ?

Answers

Answered by Anonymous

Planning as a Function of Management # 1. What is Planning?

Planning is the work the manager does to predetermine a course of action, that involves- (a) Establishing Purpose – the work managers do to discover a vision of the future; (b) Setting Goals – the work managers do to determine the end results to be accomplished; and (c) Creating Plans – the work of sequencing tasks to accomplish goals.

Thus planning is an activity where goals are set, environmental studies are made, planning premises are considered and a plan is chalked out. Thus plan is a predetermined course of action, which emerges as an outcome of planning process.

Different management scientists have defined the ‘planning’ differently. Some definitions are as broad as – “Planning is anticipating” – Earl Strong.

Some recognize it as a process, like – “Planning is the thinking process, the organized forecast, the vision based on fact and experience that is required for intelligent action.” – Alfred and Beaty.

Some view it in the form of outcomes of planning, like – “Management planning involves the development of forecasts, objectives, policies, programs, procedures, schedules, and budgets” – Louis A. Allen.

When an organization wants to reach a goal, it makes a plan to reach it. The plan is a future course of action. To decide this future course of action, the manager has to anticipate future and take into account the organization’s capability with regard to the resources required to implement the plan.

This plan should clearly lay out action sequences to be performed. After putting the plan into action, the management keeps a track of it and make adjustments in it as and when required under the given circumstances. Organizational plans generally take the shape of policies, procedures, budgets, programs, etc.