Planning

PLANNING

Planning is the process of deciding in advance what to do, how to do, when to do and who to do. It is one of the basic managerial functions. It refers to the determination of a course of action to achieve the desired result efficiently and effectively.

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DEFINITION

"Planning is deciding in advance what is to be done. It involves the selection of objectives, policies, procedures and programmes from among alternatives."

                                           - M.E. Hurly

IMPORTANCE OF PLANNING

1) Provides direction: 

      By stating in advance the objectives in clear terms, planning provides the direction for action.

2) Reduces the risk of uncertainty:

     Planning helps in reducing uncertainties of future as it involves the anticipation of future events.

3) Facilitates decision making:

     Planning involves searching for various alternatives, evaluating them and accepting the best one (decision making). Thus, planning gives necessary guidelines for effective decision making.

4) Reduce overlapping and wasteful activities:

       Planning coordinates the activities and efforts of individuals, divisions and departments. It leads to purposeful and orderly activities, thus avoiding overlapping and wasteful activities.

5) Establishes standards for controlling:

      Planning clearly specifies the standards/targets to be achieved. Evaluation of performance against the predetermined standard is the essence of control. It provides basis of control.

6) Promotes innovative ideas:

      Since planning is the first function of management new ideas can take the shape of concrete plans. It aids innovative and creative thinking.

 Thus, planning is closely connected with creativity and innovation. It is an intellectual process for thinking before doing. Planning is carried out at all levels. It requires taking decisions by choosing the best from among various alternatives.