Next-Push

Planning help an organization to setup a process, develop strategies to achieve its goal. In the management world planning helps to keep focus on the project's development and increase productivity.  The main importance/significance of planning is listed as follows: 1) Planning facilitates Decision making : - Decision making means the process of taking decision. Under it, a variety of alternatives are discovered and the best alternative is chosen. But it is important to determine the objectives before the discovery of alternatives. Objectives are determined under the process of planning. So. it can be said that planning facilitates decision making. 2) Planning helps in Increase efficiency : - Planning makes optimum utilization of all available resources. It helps to reduce wastage of important resources and avoids their duplication. It aims to give highest returns at the lowest possible cost. Planning thus increases the overall efficiency. 3)

Definition of Planning: 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.” Feature / Nature/ Characteristics Of Planning 1) Planning contributes to objectives : - Planning always starts with the determination of objectives. We cannot think of planning in absence of objective. After setting up an objective, planning decide the methods, procedure and steps to achieve those objectives. For an example if an organization has the objective of manufacturing 1500 washing machine in a month, then organization need to plan their activities according to the objective, to achieve their target in desired month. 2) Planning is primary function of management : - The primary or first function of every individual organization is to do planning. No other function can be executed by the organization without performing planning. Because the basic function of planning is to set up an objective, and ot

Planning can be defined as “planning bridges the gap between where we are standing today and where we want to reach ”. It involves setting objectives and deciding in advance the appropriate course of action to achieve these objectives. The most important ingredient of planning is time . Plans are always developed for the fixed time period as no business can go on planning endlessly. The Process of planning is:- 1. Identifies the goals or objectives to be achieved, 2. Formulates strategies to achieve them, 3. Arranges or creates the means required, 4. Implements, directs, and monitors all steps in their proper sequence.                                                                                                                                                                                  Credits:-NCERT Delhi