Identify and explain the features of …

Identify and explain the features of planning

Posted by Aditi Agarwal 5 years ago

CBSE > Class 12 > Business Studies

1 answers

Gaurav Seth 5 years ago

Planning Focuses on Achieving Objectives
Every organisation has a set of goals to be achieved. Planning involves setting goals and determining the most economical and viable course of action to achieve the predetermined goals. Thus, planning is purposeful.
Planning is a Primary Function of Management
It lays down the base for all other functions of management. All other managerial functions are performed within the framework of the plans drawn. Thus, it can be said that planning precedes other functions. This is also called the ‘primacy’ of planning.
Planning is Pervasive
It is required at all levels of management as well as in all the departments of the organisation. It is not a function restricted to top level but it is performed by managers at every level.
While the top management forms organisational plans, middle level does departmental planning, and the lower level makes plans for the day-to-day working of the organisation.
Planning is Continuous
Plans are made for a specific time period. At the end of such tirtie period, new plans have to be drawn. When plans are objective-based and goals are achieved, new plans are drawn with new objectives. On the other hand, if goals are not achieved, plans are revised to achieve success in future.
Planning is Futuristic
It is essentially looking ahead, as it is based on forecasting and is prepared for the future.
The purpose of planning is to me* future events effectively to the best advantage of an organisation. It implies peeping into the future, analysing it and predicting it. Thus, it is a futuristic process.
Planning Involves Decision-making
Planning is essentially the process of choosing among various alternatives. So, in order to make an effective choice, examination and evaluation of each alternative is necessary.
If there is only one possible goal or action, then there is no need for planning. Thus, it is concerned with decision-making.
7.Planning is a Mental Exercise
It is a mental exercise as it requires creativity, imagination and higher thinking skills with sound judgement.
It is an intellectual activity of thinking rather than doing. It requires logical and systematic thinking rather than guess work or wishful thinking.