PLANNING IN MANAGEMENT

Definition 

The process of thinking about the activities required to achieve a desired goal. It is the first and foremost activity to achieve desired results. It involves the creation and maintenance of a plan, such as psychological aspects that require conceptual skills. There are even a couple of tests to measure someone’s capability of planning well. 

Characteristics 

1. Planning is the Primary Function of Management / Primacy of Planning. 
2. Planning is an Intellectual Process 
3. Planning is a Continuous Process 
4. Planning is Pervasiveness 
5. Planning is Dynamic (Flexible) 
6. Planning Involves Forecasting 
7. Planning and Linking Factor.

Importance

1. It helps managers to improve future performance 
2. It minimises risk and uncertainty, by looking ahead into future. 
3. It facilitates coordination of activities. 
4. Reduces overlapping among activities and eliminates unproductive work. 
5. It provides direction for action. 
6. It uncovers and identifies future opportunities and threats. 
7. It sets out standards for controlling. 
8. It compares actual performance with the standard performance and efforts are made to correct the same.

                                          

STEPS INVOLVED IN PLANNING

THAT IT , THANKYOU FOR READING