INTRODUCTION TO MANAGEMENT PLANNING

Planning is the first primary function of management that precedes all other functions. The planning function involves the decision of what to do and how it is to be done? So managers focus a lot of their attention on planning and the planning. Let us take a look at the eight important steps of the planning process.

The planning function of management is one of the most crucial ones. It involves setting the goals of the company and then managing the resource to achieve such goals. As you can imagine it is a systematic process involving eight well thought out steps. Let us take a look at the planning process.

1] Recognizing Need for Action

2] Setting Objectives

3] Developing Premises

4] Identifying Alternatives

5] Examining Alternate Course of Action

6] Selecting the Alternative

7] Formulating Supporting Plan

8] Implementation of the Plan

 There are 4 types of planning

1)Operational Planning

2)Strategic Planning

3)Tactical Planning

4)Contigency Planning