Planning is a process of establishing goals of an organization and deciding
the ways and means to be followed to achieve those goals.
Main activities of the process of planning
Deciding the goals and objectives.
Deciding appropriate ways and means to achieve the goals and objectives.
Presentation of those methods and strategies in writing.
Steps Of Planning
Analysis of environment
Identification of the strengths, weaknesses, opportunities and threats
Establishment of the Vision, Mission, Goals and Objectives
Identification of strategies
Implementation of the plans
Measuring the success and controlling
Principles Of Planning
Based on goals and objectives
Practicability
Flexibility
Easy to understand
Specific time duration
Prepared prior to other managerial functions in an integrated manner
Importance Of Planning
To face the uncertainty and dynamic environments successfully
To get the maximum use of the scarce resources
Planning facilitates controlling. Plans are supportive to determine whether the
organization has fulfilled its objectives, and if not what should be done to rectify
them
Planning gives managers an opportunity to think about the future of the organization
Planning is essential for other functions of management
Planning is required for the continuity and growth of the organization
Problems and Limitations Of Planning
Application of out dated and incorrect information
Planning based on the previous trends and data available at present
Planning beyond the ability and capacity
Insufficient interest and dedication
Not receiving the co-operation of the employees at each level in the organization
Plans not being integrated to the entire management system
Believing that the plan will work as expected after being implemented
Plan
Outcome of planning is the plan.
The plan shows the course of action for the problems of what is expected to achieve in the future, how to achieve, when and by whom to achiveve and also it is a group of activities prepared in written form.
