Planning is the first and foremast function of management. It is concerned with the determination of future course of action in advance so as to achieve the desired results extending, it is concerned with thinking before doing and deciding in advance what is to be done, how is to do it. Effective planning facilitates early achievement of objectives, which depends upon the efficiency of the planner. The plans are prepared through the planning process which involves activities to arrived, and when to be achieved. Therefore, planning is taken as a process. Meaning
Planning is an intellectual process of thinking restored to decide a course of action which helps achieve the pre-determined objective of the organization in future. In other words, planning as process involves the determination of future course of action. DEFINITIONS
* According to Koontz and O Donnel “planning is deciding in advance what to do, how to do it, when to do it and who is to do it. It bridges the gap from where we are to where we want to go” * According to H. Fayol “planning is deciding the best alternatives among others to perform different managerial operations in orders to achieve the pre-determined goals. * According to Peter F. Drucker “Planning is the continuous process of making present entrepreneurial decision systematically and with best possible knowledge of their futurity, organizing systematically the efforts needs to carry out these decisions and measuring the results of these decisions against the expectations through organized, systematic feedback”. * Dalton E.M C. Farland defines planning as, “Planning may be broadly as a concept of executive action that embodies the skills of anticipating, influencing and controlling the nature and direction of change”.
IMPORATANCE OF PLANNING
The business unit has to work in uncertain and ever changing conditions. It is very difficult to continue the business under such situations effective planning can anticipating the uncertain events and help prepare the workforce to meet the situation to survive. Planning helps the businessman get early success. Success without planning is almost impossible in business. So, the planning function is very important due to the various reasons. The following stated points are clearly sophisticated the significance or needs of planning.
1. Achievement of objectives:
Planning focuses on organizational objectives and direction of action for achieving these objectives sometimes people in the organization may not be specific about its objectives because of lack of clarity and precise definitions. All the activities of an organization are designed to achieve the framed objectives. However, planning makes the organization focus on objectives for early achievement. 2. Convert uncertainty into certainty:
There is continuous change in the environment and the organization has to work in accelerating change. In order to cope up with the requirement of such changes, organization must the look ahead for its future course of action which is basically provided by planning process. Planning provides necessary provision to face the uncertainties and also it evaluates the alternative course of action for the continuous growth and prosperity of the organization. 3. Economy in operation:
Planning leads to purposeful and orderly activities. The available resources are used to the best of their capacity. All activities are done in a minimum possible time. All types of wastages are eliminated in all the departments resulting in the efficient and economical operations of an enterprise. Planning selects any one of the available alternatives which will help to produce the best results at minimum costs. 4. Help in co-ordination:
The co-ordination is obtained by the management through planning, well- published policies programmes and procedures. So, planning also helps management get...