Planning is the first step of management or business because planning helps in running the business systematically and smoothly. A wrong planning can ruin the business, so planning is done very thoughtfully. The mental ability of management is used in planning. The better the mental ability is used; the better planning can be prepared.
Everyone makes planning because planning helps in achieving goals. For example, students make planning to get good knowledge and marks, businesses make planning to get success and earn more profits, etc.
Table of Contents
What is Planning?
Meaning of Planning:
Planning means thinking before doing the work, what to do, why to do, when to do, how to do, and who will do, etc.
Planning includes:
What to do?
Why to do?
When to do?
How to do?
Who will do?
Planning is one of the most important fundamental functions of the business and it helps to make the road for the business. In business, planning is made by the management of the business. In big businesses, separate planning departments are created and people with high qualifications are appointed.
Definition of Planning:
According to George R. Terry – “Planning is the selecting and relating of facts and the making and using of assumptions regarding the future in the visualization and formulation of purposed activities believed necessary to achieve desired results.”
According to hart – “The determination in advance of a line of action by which certain results are to be achieved.”
According to Koontz and O’Donnell – “The selection from among alternatives for future courses of action for the enterprise as a whole and each department with it.”
According to Alford and Beatty – “Planning is the thinking process, the organized foresight, the vision based on fact and experience that is required for intelligent action.”
Features of planning
Following are the features of planning:
1. Intellectual Process:
Planning is an intellectual process because the ability to think is used to make a Planning. How to make a good Planning depends on the mental ability of the planner. The more knowledge and implementation ability a planner has, the better the plan can become.
2. Managerial Functions:
Planning is one of the most important managerial functions of business and is made by the management of the business. The management has good knowledge about the elements and components of planning because people with high qualifications are appointed in the planning department.
3. Goal Oriented:
Planning is goal oriented because planning is done to achieve goals. Planning includes all the important aspects that help in achieving the goals systematically and smoothly. Like: What to do, why to do, when to do, how to do, who will do, etc.
4. Continuous Process:
Planning is a continuous process because planning is done again and again. Planning is made for every objective. In business, planning does not stop as long as the business exists.
5. Futuristic:
Planning is futuristic because planning is made for the future using past and present data. It helps in taking decisions and achieving the goal systematically and smoothly.
6. Decision Making:
Planning helps in decision making because it is based on the future and includes all the elements that are helpful in decision making.
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QNA/FAQ
Q1. What is Planning?
Ans: Planning means thinking before doing the work, what to do, why to do, when to do, how to do, and who will do, etc.
Q2. Is planning a continuous process?
Ans: Yes, Planning is a continuous process because planning is done again and again.
Q3. Is planning an intellectual process?
Ans: Yes, Planning is an intellectual process because the ability to think is used to make a Planning.
Q4. Is planning a managerial function?
Ans: Yes, Planning is one of the most important managerial functions of business and is made by the management of the business.
Q5. Write the features of planning.
Ans: Following are the features of planning:
1. Planning is an intellectual process.
2. Planning is a managerial function.
3. Planning is goal oriented.
4. Planning is a continuous process.
5. Planning is futuristic.
6. Planning helps in decision-making.
7. Planning helps in the growth of business.
