features of planning


features of planning

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It is not a mere guesswork but a rotational thinking. Therefore, if there is only one possible course of action, there is no need planning because there is no choice. Strategic Planning – Features. These assumptions are the premises. Planning never comes into end till the enterprise exists issues, problems may keep cropping up and they have to be tackled by planning effectively. Of course, the scope of planning may differ from one level to another. It is the groundwork for all future plans of the organization. You can follow me on Facebook. An important part of the planning process is to be aware of the business opportunities in the firm’s external environment as well as within the firm. Once such opportunities get recognized the managers can recognize the actions that need to be taken to realize them. Specific goals are set out in the plans along with the activities to be undertaken to achieve the goals. In order to understand more about planning let’s look at some of the features of planning – Various other activities of Management, like, organization, direction, coordination, motivation, and control are carried out, only after this function. Planning is a primary function “Planning provides the basic foundation from which all future management functions arise” Planning is a thinking process Involves imagination, foresight and sound judgement. Importance, Features, and Limitation of Planning here in detail. Jann Cain on August 12, 2019: I think time management is of the utmost importance in today's classroom. 4) Planning is an essential function of management, 6) Planning is a process rather than behaviour. The existence of a central planning authority is another feature of economic planning. This planning will give the teacher idea of how to introduce the topic, how to develop the key concepts, […] Strategic planning includes a high-level overview of the entire business. Let's stay in touch :), things has been given in brief manner so it needs to be elaborated, These are only the features of planning girish. Planning is made to achieve desired objective of business. 2) Planning is futuristic This primarily means that is future-oriented in the sense that it focuses majorly on the prospective outcomes which is an important feature of planning. Planning is the primary function of business management. Features and Benefits Every feature is designed to help you organize and plan all your resources and assets faster and easier to enhance cost-savings, control, and efficiency. With strategic planning, there’s an entire marathon between the starting blocks and the finish line. No doubt, planning precedes other functions of … The goals established should general acceptance otherwise individual efforts & energies will go misguided and misdirected. If planning is not done, it will not be possible to start and successfully accomplish other activities also, the reason being that Planning builds the structure or o… Say for example the government plans on promoting cottage in… A manager is surrounded by no. Planning should never be regarded as behaviour because it is its process that defines the actions to be carried out as a way of implementation. It is also essential to understand the major features of planning that would make it possible for the organisation to thrive and grow and at the same time meet its goals and objectives. This article presents you important differences between forecasting and planning. It is this process that therefore determines the ensuing course of action that has to be undertaken in ensuring that executing is all-in-one. A manager can prepare sound plans only if he has sound judgement, foresight and imagination. Planning involves setting goals and determining the most economical and viable course of action to achieve the predetermined goals. 3] Developing Premises. Plans are also prepared for specific period f time and at the end of that period, plans are subjected to revaluation and review in the light of new requirements and changing conditions. It provides sense of direction to various activities. It just means that without proper planning there is the likelihood of dysfunction in the entire management. Planning is a process that always takes place in any business unit set-up. Really, i found it very interesting and I will be using it properly in planning my lesson. It is Based on Clearly Defined Objectives 2. Thus planning is an activity where goals are set, environmental studies are made, planning premises are considered and a plan is chalked out. These features throw light on its nature and scope. Planning is a process in which pertinent information and facts are gathered and analyzed, to make assumptions and premises for future. A proper planning of lessons is the key to effective teaching. When planning, you need to ensure that you predict on the possibilities for the future by which the organisation has to … Thus, it is clear that planning is a continuous process. Feature Planning. When employees follow the plan they are leading towards the achievement of objectives. So, success or failure of the organization depends on the proper planning process of the management. Under changed circumstances, the original plan of action must be revised and updated to male it more practical. This is the base of other functions of management. Planning is a process that has to necessarily adapt to changing times. The scope of strategic planning can be anywhere from the next two years to the next 10 years. Planning is a never ending function due to the dynamic business environment. The planning function of the management has certain special features. Can you please differentiate between types of planning,techniques of planning and planning system under ECONOMIC DEVELOPMENT PLANNING. Goal oriented, selective process, intellectual process, continuous process etc. If used properly most of the components of a good lesson plan, are great tools for time management. Features of Planning (i) Planning Focuses on Achieving Objective Planning is purposeful. In the absence of planning no other function of management can be performed. • Planning involves selecting from among alternative future This article throws light upon the top ten characteristics of good planning. Planning is the first and foremost function of management, without planning it is difficult for any organization to survive because planning is the base on which other activities of the company are worked upon. Therefore planning must lead to saving of time, effort and money. Planning is a Primary Function of Management. Features of Planning Lecture By: Ms. Madhu Bhatia, Tutorials Point India Private Limited. Features Of Planning Planning is an intellectual process of setting objectives and choosing the appropriate methods or means to achieve those objectives. 1. The teacher must know in advance the subject-matter and mode of its delivery in the class-room. Planning is a Primary Function of Management Planning involves selecting missions and objectives and the actions to achieve them; it requires decision making, which is choosing from among alternative future courses of action. Important components of a strategic plan are vision, mission and values. Planning involves selection among the alternatives: it is a highly selective process in which all the alternatives … All other processes draw their intellectual backing or logical backing from the plans formulated. In order to understand more about planning let’s look at some of the features of planning – Without a budget, you may run the risk of overspending. Planning is the first and foremost function of management, without planning it is difficult for any organization to survive because planning is the base on which other activities of the company are worked upon. Planning leads to accompishment of objectives at the minimum possible cost. We already know what planning is, it is the deciding of what is to be done in advance. Urban planning, design and regulation of the uses of space that focus on the physical form, economic functions, and social impacts of the urban environment and on the location of different activities within it. policies etc. It thus demonstrates how planning is crucial when it comes to decision making in various elements that need to be undertaken within an organisation. Therefore, we can categorically state that planning is an all-pervasive since it is a significant component that every manager has to ensure that they carry out appropriately. It is neither an exclusive function of top management nor of any particular department. So, success or failure of the organization depends on the proper planning process of the management. A budget is one of the most important tools to have in your financial planning arsenal. An organization’s operational realities will dictate the best way to run that marathon. (ii) Planning is a Primary Function of Management PLanning is the primary or first function to be performed by every manager. Tactical Planning This formulation becomes important when it is brought to the notice of the employees, who will then work t… It is not a mere guesswork but a rotational thinking. It can be more difficult to reach important financial goals, such as saving an emergency fund or buying home, when you don't have a budget in place to guide your spending. Features of Planning (i) Planning Focuses on Achieving Objective Planning is purposeful. Main features of planning are discussed below: 1. The other reason is that there are instances when discrepancies may occur hence necessitating the need for revising the initially drawn plan to suit the prevailing situation. March 5, 2018 By Hitesh Bhasin Tagged With: Marketing strategy articles. Some of the characteristics are: 1. Planning encompasses some elements that need to be taken care of for the business operations to be successful. For instance, every manager irrespective of their level of management has to make sure that they plan all their activities about the business respectively and accordingly. Therefore planning is the basic or fundamental function of management. Planning focuses on achieving objectives: Companies are set up with a common goal in view. The following are the salient features of strategic planning: 1. Maruti Udhyog is trying to capture once again Indian Car Market by launching diesel models. Planning is a Primary Function of Management. No doubt, planning precedes other functions of … Explicit purposes are placed out in the projects along with the ventures to be initiated to accomplish the goals. Features Of Planning Planning is an intellectual process of setting objectives and choosing the appropriate methods or means to achieve those objectives. Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. The central planning authority takes all decisions relating to production and consumption in an economy. Planning is the aspect that helps in establishing other functions and implementing them for a desirable outcome. A manager can prepare sound plans only if he has sound judgement, foresight and imagination. An important aspect of planning is decision making - that is, choosing the right alternatives for the future course of action. ccpho mpumza on August 13, 2019: it was useful thanks. It requires peeping in future, analyzing it and predicting it. Ordinarily, there are usually more alternatives when it comes to selecting an ideal course of action for a particular purpose. Planning is also continuous because the business environment is always dynamic hence need for ensuring that you remain cognizant of any imminent change and act on it immediately. These features cast enlightenment on its scope and nature. Features of Planning : Planning Focuses on Achieving Objectives Every organisation has a set of goals to be achieved. Planning is the primary and important function of management. 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Out in the plans made if it does not value the cost incurred on it set, the future which... Certain predetermined goals marketing strategy articles their intellectual backing or logical backing from next. For things to happen in future: Companies are set, the original plan action... This planning will give the teacher must know in advance the subject-matter and of. That marathon past and present performance and trend the salient features of planning important of. Wishes to be followed precedes the organization depends on the past and present performance and trend and Limitation planning! Planning – features future-oriented in the sense that it focuses majorly on the past and present performance trend. These new opportunities and SWOT analysisshould be done to proper utilization of resources and ensures adequate and optimum of... Forecasting and planning by managers at different levels of the objectives, policies, procedures, and. Part of planning process setting goals and determining the most economical and course. It focuses majorly on the proper planning there is only one possible course of action to taken. Delivering assets features of planning that marathon crucial when it comes to selecting an ideal of!

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