INTRODUCTION TO MANAGEMENT
PLANNING
WHAT IS PLANNING???
Planning is the
process of thinking about the activities required to achieve a desired goal. It
is the first and foremost activity to achieve desired results. It involves the
creation and maintenance of a plan, such as psychological aspects that require
conceptual skills.
TYPES OF
PLANNING.
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CHARACTERISTICS OF PLANNING
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§ It helps managers
to improve future performance, by establishing objectives and
selecting a course of action, for the benefit of the organisation.
§ It minimises
risk and uncertainty, by looking ahead into the future.
§ It facilitates
the coordination of activities. Thus, reduces overlapping among activities
and eliminates unproductive work.
§ It states in advance,
what should be done in future, so it provides direction for action.
§ It uncovers and
identifies future opportunities and threats.
§ It sets out
standards for controlling. It compares actual performance with the standard
performance and efforts are made to correct the same.
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