Planning is defined by Bateman and Snell (2009), as “The management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue.” Planning is the difference between a successful and unsuccessful manager. .Planning, the first management function requires analysis of physical situations in a business, perhaps problems that need to be solved or analysis of systems that need improvement to become cost effective. Planning is the first step in management and is paramount as it facilitates control, valuable decision making and in the avoidance of business ruin. .Planning also requires anticipation of future needs of the company to be successful.…
Planning provides a sense of direction and purpose. All managers use the planning strategy to develop goals and courses of action, establish rules and procedures, and to forecast future outcomes. Planning requires management to evaluate, both internally and externally, the current state of the company and where it will be in the future. “Planning is a process consisting of several steps. The process begins with environmental scanning, which simply means that planners must be aware of the critical contingencies facing their organization in terms of economic conditions, their competitors, and their customers. Planners must then attempt to forecast future conditions. These forecasts form the basis for planning” (Barnett, 2006)…
Planning can be described as setting goals to be achieved and then deciding before the plan is put into action, what is needed to achieve these goals. A good example of planning is upper managers meeting and discussing the pros and cons of last year’s business growth or decline and what must be done to increase profitability. Good planning is very important for any business to be successful.…
Planning is decision making concerning what needs to happen in the future and generating plans for action. In other words planning is the organizational process of creating and maintaining a plan; and the psychological process of thinking about the activities required to create a desired future on some scale.…
Planning is really the foundation of management. It requires managers to evaluate where the company is currently and where it wants to be in the future.…
In planning of management process, it is to determine what the organizations needs to do and how best to get it done requires planning. Planning has three main components. As we have seen, it begins when managers determine the firm’s goals. Next, they develop a comprehensive strategy to archive those goals. After a strategy is developed, they design tactical and operational plans for implementing the strategy.…
Planning is defined as setting goals and deciding the course of actions we need to take to be successful, putting together the rules and procedures on reaching our goal, putting together the plans on how we must proceed with our process, and deciding where you want the work place to be in the future. The planning stage is where all the other pats of management begin from and it is important at all levels of management.…
Planning is one of the key managerial functions which must be administered my management in order for all organisational objectives to be met. Goodstein, Pfeiffer and Noland (Harrison, E F. 1995 ) suggest "...planning is the process by which an organisation envisions its future and develops the necessary procedures and operations to achieve that future...It requires the clear setting of goals and objectives [which] provide the organisation with its core priorities and a set of guidelines for virtually all day-to-day managerial decisions"…
In the organization, planning is defined as the starting point of any management process, giving the organization direction, setting goals and forcing managers to be future orientated and be able to deal with business environmental changes. Planning indicates resources which could be utilized to achieve the set goals. Planning consists of two components, plans and goals. Planning is a management task and is probably the most important management task in the entire process of effective management as this starts the entire management task cycle.…
Merriam-Webster Online Dictionary defines planning as the act or process of making or carrying out plans and the establishment of goals, policies, and procedures for a social or economic unit (n.d.). Planning establishes a course of action, is the start point, and therefore affects each successive element of the management process. The planning process can include such elements as creating organizational goals, objectives, and developing a strategy through resources and decision-making on how best to achieve those goals. The planning phase is ongoing and remains fluid to accommodate facets of the managing and developing processes that are continually affected by various factors.…
Planning is the central function of management, and it pervades everything a manager does. In planning, a manager looks to the future, saying, “Here is what we want to achieve, and here is how we are going to do it” (Sims, 2002, p. 10).…
Its is basically achieving goals through people, manage the organization resources there are basically 3 resources financial resources , human resources and physiological resources.…
Planning is about defining goals, establishing strategies and developing plans to coordinate activities (Robbins and Coulter, 2009). Aaker (2001) said that planning is an essential role in making decision by reduces uncertainty within process, setting a standardized way of work which able to minimize waste of time, money and product. Moreover, it serves as a foundation to making a successful company, along with proper organizing, leading, and controlling activities. Without the existence of planning, a company will eventually lose focus and got lost in every attempt that it does, rendering it ineffective in reaching its established vision. The absence of proper planning will also cause the company to work inefficiently (Mason, 2007).…
Planning involves reviewing the current situation and generating a plan that will allow the organisation to meet its established goals and objectives (Selley, 2009). This could entail generating a plan to increase profit and detail how this will be achieved (focus on capturing a larger market share or perhaps moving into a new market). Correct planning ensures there is a degree of focus, while also providing a structured timeline that relevant stakeholders can adhere too.…
Planning is one of the most important project management and time management techniques. Planning is preparing a sequence of action steps to achieve some specific goal. If a person does it effectively, he can reduce much the necessary time and effort of achieving the goal. A plan is like a map. When following a plan, he can always see how much he have progressed towards his project goal and how far he is from his destination. The word planning incorporates both ideas: It means determining the organization's goals and defining the means for achieving them. Planning allows managers the opportunity to adjust to the environment instead of merely reacting to it. Planning increases the possibility of survival in business by actively anticipating and managing the risks that may occur in the future.…