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.
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.
* 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