According to Koontz and O'Donnell, "Planning is deciding in advance what to
do, how to do it, when to do it, and who is to do it. Planning bridges the gap
between where we are and where we want to go. It makes it possible for things to
occur which would not otherwise happen”.
According to George R Terry, "Planning is the selecting and relating of facts
and the making and using of assumptions regarding the future in the
visualization and formulation of purposed activities believed necessary to achieve
desired results".
According to Philip Kotler, "Planning is deciding in the present what to do in
the future. It is the process whereby companies reconcile their resources with
their objectives and opportunities".
Planning bridges the gap from where we are to where we want to go. In the absence of
planning, events are left to chance. A plan is to-day's projection for tomorrow's activity.
A plan is a determined course of action for achieving a specific objective. An individual
may prepare a plan for his journey or tour or for a family function. Similarly, a business
unit may prepare a plan to achieve a particular objective. It is called a business plan
which includes production plan, sales plan, and so on. A business unit prepares a master
plan for the whole unit. Such master plan is again divided into departmental plans for
actual execution. Planning is a process of thanking to action. It is a means to achieve
well defined objectives. Business plan and business planning move together.
Planning is the primary function of management and occupies the first position in the
management process. It is the starting point of the whole management process as other
management functions are related to planning function. Planning, in simple words,
means to decide the objectives clearly and to prepare a plan. Thereafter to take suitable
,steps for the execution of the plan. Planning function is performed by managers at all
levels. It is deciding the objective to be achieved and taking suitable follow-up steps for
achieving the same.
The need of planning is universally accepted in the business as well as in other aspects
of life. The following points justify the need of business planning/planning in business:
Planning is needed for survival and growth of a business unit in an orderly
manner.
Planning is needed in order to face new problems/difficulties developed due to
growth of markets, market competition, changes in consumer expectations and
so on.
Planning is needed in order to face challenges created by changing environmental
factors/forces.
Planning is needed as it acts as a pre-requisite to good management. It is needed
as it is the core of the whole management process.
Planning is needed in order to achieve the objectives decided by the management.
It is also needed as it ensures accuracy, economy and operational efficiency in
business management.
1. Planning is goal-oriented.
2. Planning is looking ahead.
3. Planning is an intellectual process.
4. Planning involves choice & decision making.
5. Planning is the primary function of management / Primacy of
Planning.
6. Planning is a Continuous Process.
7. Planning is all Pervasive.
8. Planning is designed for efficiency.
9. Planning is Flexible.
,1. Planning is goal-oriented.
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.
2. Planning is looking ahead.
Planning is done for future.
It requires peeping in future, analyzing it and predicting it.
Thus planning is based on forecasting.
A plan is a synthesis of forecast.
It is a mental predisposition for things to happen in future.
3. Planning is an intellectual process.
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 sound judgement, foresight
and imagination.
Planning is always based on goals, facts and considered estimates.
4. Planning involves choice & decision making.
Planning essentially involves choice among various alternatives.
Therefore, if there is only one possible course of action, there is no need planning
because there is no choice.
Thus, decision making is an integral part of planning.
A manager is surrounded by no. of alternatives. He has to pick the best
depending upon requirements & resources of the enterprises.
, 5. Planning is the primary function of management / Primacy of Planning.
Planning lays foundation for other functions of management.
It serves as a guide for organizing, staffing, directing and controlling.
All the functions of management are performed within the framework of plans
laid out.
Therefore planning is the basic or fundamental function of management.
6. Planning is a Continuous Process.
Planning is a never ending function due to the dynamic business environment.
Plans are also prepared for specific period f time and at the end of that period,
plans are subjected to revaluation and review in the light of new requirements
and changing conditions.
Planning never comes into end till the enterprise exists issues, problems may
keep cropping up and they have to be tackled by planning effectively.
7. Planning is all Pervasive.
It is required at all levels of management and in all departments of enterprise.
Of course, the scope of planning may differ from one level to another.
The top level may be more concerned about planning the organization as a whole
whereas the middle level may be more specific in departmental plans and the
lower level plans implementation of the same.
8. Planning is designed for efficiency.
Planning leads to accompishment of objectives at the minimum possible cost.
It avoids wastage of resources and ensures adequate and optimum utilization of
resources.
A plan is worthless or useless if it does not value the cost incurred on it.
Therefore planning must lead to saving of time, effort and money.
Planning leads to proper utilization of men, money, materials, methods and
machines.
do, how to do it, when to do it, and who is to do it. Planning bridges the gap
between where we are and where we want to go. It makes it possible for things to
occur which would not otherwise happen”.
According to George R Terry, "Planning is the selecting and relating of facts
and the making and using of assumptions regarding the future in the
visualization and formulation of purposed activities believed necessary to achieve
desired results".
According to Philip Kotler, "Planning is deciding in the present what to do in
the future. It is the process whereby companies reconcile their resources with
their objectives and opportunities".
Planning bridges the gap from where we are to where we want to go. In the absence of
planning, events are left to chance. A plan is to-day's projection for tomorrow's activity.
A plan is a determined course of action for achieving a specific objective. An individual
may prepare a plan for his journey or tour or for a family function. Similarly, a business
unit may prepare a plan to achieve a particular objective. It is called a business plan
which includes production plan, sales plan, and so on. A business unit prepares a master
plan for the whole unit. Such master plan is again divided into departmental plans for
actual execution. Planning is a process of thanking to action. It is a means to achieve
well defined objectives. Business plan and business planning move together.
Planning is the primary function of management and occupies the first position in the
management process. It is the starting point of the whole management process as other
management functions are related to planning function. Planning, in simple words,
means to decide the objectives clearly and to prepare a plan. Thereafter to take suitable
,steps for the execution of the plan. Planning function is performed by managers at all
levels. It is deciding the objective to be achieved and taking suitable follow-up steps for
achieving the same.
The need of planning is universally accepted in the business as well as in other aspects
of life. The following points justify the need of business planning/planning in business:
Planning is needed for survival and growth of a business unit in an orderly
manner.
Planning is needed in order to face new problems/difficulties developed due to
growth of markets, market competition, changes in consumer expectations and
so on.
Planning is needed in order to face challenges created by changing environmental
factors/forces.
Planning is needed as it acts as a pre-requisite to good management. It is needed
as it is the core of the whole management process.
Planning is needed in order to achieve the objectives decided by the management.
It is also needed as it ensures accuracy, economy and operational efficiency in
business management.
1. Planning is goal-oriented.
2. Planning is looking ahead.
3. Planning is an intellectual process.
4. Planning involves choice & decision making.
5. Planning is the primary function of management / Primacy of
Planning.
6. Planning is a Continuous Process.
7. Planning is all Pervasive.
8. Planning is designed for efficiency.
9. Planning is Flexible.
,1. Planning is goal-oriented.
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.
2. Planning is looking ahead.
Planning is done for future.
It requires peeping in future, analyzing it and predicting it.
Thus planning is based on forecasting.
A plan is a synthesis of forecast.
It is a mental predisposition for things to happen in future.
3. Planning is an intellectual process.
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 sound judgement, foresight
and imagination.
Planning is always based on goals, facts and considered estimates.
4. Planning involves choice & decision making.
Planning essentially involves choice among various alternatives.
Therefore, if there is only one possible course of action, there is no need planning
because there is no choice.
Thus, decision making is an integral part of planning.
A manager is surrounded by no. of alternatives. He has to pick the best
depending upon requirements & resources of the enterprises.
, 5. Planning is the primary function of management / Primacy of Planning.
Planning lays foundation for other functions of management.
It serves as a guide for organizing, staffing, directing and controlling.
All the functions of management are performed within the framework of plans
laid out.
Therefore planning is the basic or fundamental function of management.
6. Planning is a Continuous Process.
Planning is a never ending function due to the dynamic business environment.
Plans are also prepared for specific period f time and at the end of that period,
plans are subjected to revaluation and review in the light of new requirements
and changing conditions.
Planning never comes into end till the enterprise exists issues, problems may
keep cropping up and they have to be tackled by planning effectively.
7. Planning is all Pervasive.
It is required at all levels of management and in all departments of enterprise.
Of course, the scope of planning may differ from one level to another.
The top level may be more concerned about planning the organization as a whole
whereas the middle level may be more specific in departmental plans and the
lower level plans implementation of the same.
8. Planning is designed for efficiency.
Planning leads to accompishment of objectives at the minimum possible cost.
It avoids wastage of resources and ensures adequate and optimum utilization of
resources.
A plan is worthless or useless if it does not value the cost incurred on it.
Therefore planning must lead to saving of time, effort and money.
Planning leads to proper utilization of men, money, materials, methods and
machines.
