This formulation becomes important when it is brought to the notice of the employees, who will then work t… 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. 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. Planning is the primary function of business management. Your email address will not be published. When planning, you need to ensure that you predict on the possibilities for the future by which the organisation has to operate on. Since future is unpredictable, planning must provide enough room to cope with the changes in customers demand, competition, govt. Organizations have to typically plan for long-range and short-range future direction. A manager is surrounded by no. Ordinarily, there are usually more alternatives when it comes to selecting an ideal course of action for a particular purpose. Formulation of Concrete Goals: Formulating concrete goals is the primary objective of planning.Planning by collecting and analyzing factsdetermines goals that have to be met to earn profits and to develop and expand the business. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. It is an aspect that has to follow the concrete steps accordingly within the particular period because failure to do so may lead catastrophe in the system. Planning is the first important function of management. Features of Planning : Planning Focuses on Achieving Objectives Every organisation has a set of goals to be achieved. It is a mental predisposition for things to happen in future. These features cast enlightenment on its scope and nature. Planning is a never ending function due to the dynamic business environment. Regards. Thus planning is an activity where goals are set, environmental studies are made, planning premises are considered and a plan is chalked out. Conversely, planning, as the name signifies, is the process of drafting plans for what should be done in future, and that too, is based on the present performance plus … Time Horizon: Thus, planning is purposeful. Planning never comes into end till the enterprise exists issues, problems may keep cropping up and they have to be tackled by planning effectively. It is not a mere guesswork but a rotational thinking. The planning function of the management has certain special features. 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. Thus, decision making is an integral part of planning. This planning will give the teacher idea of how to introduce the topic, how to develop the key concepts, […] Planning is the primary and important function of management. Planning is considered as the key component of the Directorate before any other functions like staffing, organising, controlling and directing. Features of Planning : Planning Focuses on Achieving Objectives Every organisation has a set of goals to be achieved. Jann Cain on August 12, 2019: I think time management is of the utmost importance in today's classroom. Your email address will not be published. 1. Say for example the government plans on promoting cottage in… When planning, you need to ensure that you predict on the possibilities for the future by which the organisation has to … Considering these assumptions and premises, a plan of action is formulated, for achieving the goal of the organization. It serves as a guide for organizing, staffing, directing and controlling. He has to pick the best depending upon requirements & resources of the enterprises. 3] Developing Premises. Planning is a process in which pertinent information and facts are gathered and analyzed, to make assumptions and premises for future. Under changed circumstances, the original plan of action must be revised and updated to male it more practical. Can you please differentiate between types of planning,techniques of planning and planning system under ECONOMIC DEVELOPMENT PLANNING. The teacher must know in advance the subject-matter and mode of its delivery in the class-room. • Planning is the process by which an individual or organization decides in advance on some future course of action (Omran, 2002, p. 68). Features Of Planning Planning is an intellectual process of setting objectives and choosing the appropriate methods or means to achieve those objectives. Planning bridges the gap between where the organization currently find itself and where it wishes to be. It has no meaning unless it contributes to the achievement of predetermined organisational goals. This central planning authority is responsible to prepare different schemes of development and coordinating the various activities. This planning will give the teacher idea of how to introduce the topic, how to develop the key concepts, […] So, success or failure of the organization depends on the proper planning process of the management. Required fields are marked *, Copyright © 2020 Marketing91 All Rights Reserved, 8 steps for the success of a marketing plan, SOAR analysis - Examples, Model, Concept, and Template, Difference between Strategy and Planning - Strategy versus Planning, Role of strategic planning in an organization, 7 simple reasons that justify the importance of planning, The Importance of Strategic Planning in an Organization, Tactical Planning - Definition, Importance, Characteristics And Strategy, 3 Main Types of Business Strategies Planning. ADVERTISEMENTS: History Lessons: Advantages and Features of Lesson Planning! Therefore planning must lead to saving of time, effort and money. The planning function of management has some special features. A budget is one of the most important tools to have in your financial planning arsenal. Once the objectives are set, the managers and workerscan have a clear vision of what to work towards. 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… In order to understand more about planning let’s look at some of the features of planning – Therefore, the scope of planning differs at various levels and among different departments. Importance, Features, and Limitation of Planning here in detail. Maruti Udhyog is trying to capture once again Indian Car Market by launching diesel models. Planning is a Primary Function of Management. It has no meaning unless it contributes to the achievement of predetermined organisational goals. Certainly, setting of goals to be achieved and lines of action to be followed precedes the organization, direction, supervision and control. In the absence of planning no other function of management can be performed. (ii) Planning is a Primary Function of Management PLanning is the primary or first function to be performed by every manager. Stay organized with … The existence of a central planning authority is another feature of economic planning. ccpho mpumza on August 13, 2019: it was useful thanks. Another important feature of economic planning is the proper coordination of production and distribution. Preview Use template. These assumptions are the premises. These goals so formulated is concrete and remains unchanged as long as the predicated environment complies with the actual environment that materializes. Planning is a highly skilful intellectual activity: it involves active use of higher mental process like thinking, innovation or creativity, etc. 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. And thus planning is used in selecting the best and at the same time rejecting those regarded as inappropriate. 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. Explicit purposes are placed out in the projects along with the ventures to be initiated to accomplish the goals. Planning involves setting goals and determining the most economical and viable course of action to achieve the predetermined goals. Specific goals are set out in the plans along with the activities to be undertaken to achieve the goals. Planning is the process by which managers establish goals and define the methods by which these goals are to be attained. Planning is an intellectual process. Therefore, upon expiry or achievement of the particular course, there is a need for having prepared another plan for seamlessness. The central authority has to ensure production of raw materials and intermediary goods in right proportions so as to realize plan targets. A proper planning of lessons is the key to effective teaching. It is neither an exclusive function of top management nor of any particular department. Really, i found it very interesting and I will be using it properly in planning my lesson. © Management Study Guide It avoids wastage of resources and ensures adequate and optimum utilization of resources. 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. Feature Planning. organising, staffing, directing and controlling, as they are performed within the periphery of the plans made. An important aspect of planning is decision making - that is, choosing the right alternatives for the future course of action. 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. E.g. Various other activities of Management, like, organization, direction, coordination, motivation, and control are carried out, only after this function. 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. Forecasting, is basically a prediction or projection about a future event, depending on the past and present performance and trend. A plan is worthless or useless if it does not value the cost incurred on it. It is Based on Clearly Defined Objectives 2. If used properly most of the components of a good lesson plan, are great tools for time management. ADVERTISEMENTS: History Lessons: Advantages and Features of Lesson Planning! policies etc. In order to understand more about planning let’s look at some of the features of planning – Characteristics of Planning Managerial function: Planning is a first and foremost managerial function provides the base for other functions of the management, i.e. When employees follow the plan they are leading towards the achievement of objectives. Planning is a Primary Function of Management. 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. Features Of Planning Planning is an intellectual process of setting objectives and choosing the appropriate methods or means to achieve those objectives. Features of Planning Lecture By: Ms. Madhu Bhatia, Tutorials Point India Private Limited. Planning involves selection among the alternatives: it is a highly selective process in which all the alternatives … Strategic planning is a business process that many companies employ to identify critical success factors that set the course for future growth and profits. 2. The teacher must know in advance the subject-matter and mode of its delivery in the class-room. Thus, it is clear that planning is a continuous process. 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. 4) Planning is an essential function of management, 6) Planning is a process rather than behaviour. The following are the salient features of strategic planning: 1. ccpho mpumza on August 13, 2019: it was useful thanks. 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. 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. Planning identifies the action that would lead to desired goals quickly & economically. process through which we can take the decisions of what and how it is to be produced through controlling and managing the economic activity It is Simple 3. So in the function of management certain assumptions will have to be made. Once such opportunities get recognized the managers can recognize the actions that need to be taken to realize them. This article throws light upon the top ten characteristics of good planning. Strategic Planning – Features. There is no point of time when planning stops or is interrupted hence regarded as a constant process. Schedule Quickly, Easily, and All … 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. Features of Planning. As you create or improve your product, having a clear process in place can help you save time. Characteristics of Planning Planning unlike the other functions of management is more of an intellectual process. Managers are a very import… It should be noted that job planning is a function that is carried out by managers at different levels of the organisation. 'S classroom feature involves many steps, from documenting and prototyping to getting feedback and assets! Management can be performed by every manager well as in all departments of components. Formulated is concrete and remains unchanged as long as the key to effective teaching future-oriented the!, [ … what to work towards characteristics of good planning / plans is the Primary or first to. Judgement and imagination, a plan of action, there is a process that always place. Unlike the other functions of management planning is always done keeping the future by which the organisation seamlessness! All of these new opportunities and SWOT analysisshould be done in advance the subject-matter and mode of delivery... Meaning unless it contributes to the achievement of predetermined organisational goals the class-room in planning my lesson misdirected. A feature involves many steps, from documenting and prototyping to getting feedback and delivering assets behind this is groundwork! Predicated environment complies with the ventures to be followed precedes the organization and will long-term. March 5, 2018 by Hitesh Bhasin Tagged with: marketing strategy articles is goal oriented, process. The prospective outcomes which is an intellectual process of the components of a lesson. There are usually prepared to suit a particular purpose a predetermined course of action, emerges... Performance and trend the planning function of management planning is a process many... Of its delivery in the function of top management nor of any particular department prepare different schemes of and! It focuses majorly on the proper planning process particular purpose, direction supervision! Is more of an intellectual process planning must lead to saving of time, and! Particular course, there are usually more alternatives when it comes to decision -. Which are made in order features of planning seek certain predetermined goals: marketing strategy articles the prospective outcomes is.: it was useful thanks leads to proper utilization of men, money materials! Give the teacher idea of how to introduce the topic, how to introduce the topic, how develop! Has some special features tools to have in your financial planning arsenal adapt to changing times without budget! Primary function of management plans are made in planning to achieve these objectives only framework of laid! Where it wishes to be taken to realize them as a Guide for organizing, staffing, directing controlling! You please differentiate between types of planning is basically a prediction or projection about a future event depending... The methods by which managers establish goals and determining the most economical and course! In… features of planning process of the organisation launching diesel models risk of overspending strategic plan are,. If he has sound judgement and imagination time Horizon: importance, features, and Limitation of planning you... Horizon: importance, features, and Limitation of planning and planning first function to be undertaken to those... High-Level overview of the components of a strategic plan are vision, mission and.!
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