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Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
Planning in Management
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Planning in Management

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Planning is an essential function of management. Effective planning results in early achievement of objectives. …

Planning is an essential function of management. Effective planning results in early achievement of objectives.

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  • 1. Welingkar’s Distance Learning Division CHAPTER-03 PLANNING We Learn – A Continuous Learning Forum
  • 2. Welingkar’s Distance Learning Division Introduction  Planning is essential in every walk of life. Each and every person has to frame a plan to recede in his activities. The plan period may be short or long. Planning is the first and foremost function of management.  Effective planning facilitates early achievement of objectives, which depends upon the efficiency of the planner. A planner can develop his efficiency by preparing himself to face the functional developments. We Learn – A Continuous Learning Forum
  • 3. Welingkar’s Distance Learning Division Does water flowing in a distant mountain think about its distance from the ocean? The distance between my current position and my desired goals is very big. But I shall reach my goals. We Learn – A Continuous Learning Forum
  • 4. Welingkar’s Distance Learning Division Meaning of Planning  Planning is an intellectual process of thinking resorted to deicide a course of action which helps achieve the predetermined objectives of the organization future. Separate plans are prepared for various departments, and then the top executives of the organization take steps to co ordinate the various departmental plans. We Learn – A Continuous Learning Forum
  • 5. Welingkar’s Distance Learning Division Definition  There are various definitions by various eminent writers in the field of management. But in nut shell Terry has rightly said that “Planning is the selecting and relating of facts and the making and using of assumptions regarding the future in the visualization and formulations of proposed activities believed necessary to achieve desired results We Learn – A Continuous Learning Forum
  • 6. Welingkar’s Distance Learning Division Characteristics of Planning  Following are the characteristics of planning.  Planning is looking into the future.  Involves pre determined line of action.  It discovers the best alternative out of available many alternatives.  It requires considerable time form implementation.  It is a continuous process.  Its object is to achieve pre determined objectives in a better way.  It integrates various activities of organization. We Learn – A Continuous Learning Forum
  • 7. Welingkar’s Distance Learning Division Characteristics of Planning  It is done for a specific period.  It not only selects the objectives but also develops policies, programs and procedures to achieve the objectives.  It is required at all levels of management.  It is an interdependent process which co ordinates the various business activities.  It directs the members of the organization.  Growth and prosperity of any organization depends upon planning. We Learn – A Continuous Learning Forum
  • 8. Welingkar’s Distance Learning Division Objectives of Planning We Learn – A Continuous Learning Forum Anticipates unpredictable contingencies Economy in operation Achieving the predetermined goals Reduce competition Brings cooperation and coordination Reduces uncertainty PLANNING
  • 9. Welingkar’s Distance Learning Division Nature of Planning  Economy and certainty are considered while selecting the best alternative among the available ones.  The nature of planning is as below that is self explanatory.  Primary Function  Planning contributes to objectives  Planning is an intellectual activity  Planning results in higher efficiency  Planning is a continuous process We Learn – A Continuous Learning Forum
  • 10. Welingkar’s Distance Learning Division Nature of Planning  Planning is flexible  unity and consistency  Planning is common to all  Basis for all managerial functions  Getting coordination  Considering limiting factors We Learn – A Continuous Learning Forum
  • 11. Welingkar’s Distance Learning Division Planning Vs. Forecasting  Remember planning is not forecasting. Forecasting is guessing of the future course of events correctly, whereas planning is a wider term that includes forecasting and it is part of planning and is based on the past experience. We Learn – A Continuous Learning Forum
  • 12. Welingkar’s Distance Learning Division Importance of Planning  Through planning objectives are achieved and anticipates the achieved well in advance. Defective planning leads to failure of the organization. Effective planning can anticipate the uncertain events and help prepare the workforce to meet the situation to survive. Planning helps the business man get early success. We Learn – A Continuous Learning Forum
  • 13. Welingkar’s Distance Learning Division Importance of Planning Tackling increasing To manage by complexities of objectives business Effective Convert utilization of uncertainty into resources certainty Effective Help in co control ordination Economy in Avoiding operation business failures We Learn – A Continuous Learning Forum
  • 14. Welingkar’s Distance Learning Division Advantages of Planning  Better utilization of resources  Helps in achieving objectives  Economy in operation  Minimizes future uncertainties  Improves competitive strength  Effective control  Motivation We Learn – A Continuous Learning Forum
  • 15. Welingkar’s Distance Learning Division Advantages of Planning  Cooperation  Promote growth and improvement  Develops rationality among management executives  Prevents hasty judgment  Reduces redtapism  Encourages innovative thought We Learn – A Continuous Learning Forum
  • 16. Welingkar’s Distance Learning Division Advantages of Planning  Improves ability to cope with change  Creates forward looking attitude in management  Development of efficient methods  Delegation of authority facilitated  Anticipation of crisis We Learn – A Continuous Learning Forum
  • 17. Welingkar’s Distance Learning Division Steps of planning process Analysis of external Determining Formulation of action Environment secondary programs plans Analysis of internal Follow up environment and Establishing the evaluation sequence of activities Determination of Securing Objectives participation of employees Selection of the best Determining planning alternative course of premises and constraints action Examination of alternative Weighing alternative course Courses of action of action We Learn – A Continuous Learning Forum
  • 18. Welingkar’s Distance Learning Division Methods of Planning Objective plans  Objectives are treated as basic a plan that is necessary for all types of planning operations. Objective also play role in organizing, directing and controlling. We Learn – A Continuous Learning Forum
  • 19. Welingkar’s Distance Learning Division Standing plans Standing plans  It includes policies and procedures and is liable repetitive actions. Actions can be repetitive and non repetitive. It helps ready guidelines for solving recurring problems. Recurring problems are solved in different way We Learn – A Continuous Learning Forum
  • 20. Welingkar’s Distance Learning Division Master plans  Master plan covers the complete course of action along with consideration of time and strategy. Plans may be either broad or detailed in character We Learn – A Continuous Learning Forum
  • 21. Welingkar’s Distance Learning Division Limitations of Planning  Inflexibility  Limitation of forecasts  Unsuitability  Time consuming  Costly  Mental ability We Learn – A Continuous Learning Forum
  • 22. Welingkar’s Distance Learning Division Limitations of Planning  False sense of security  Delay during emergency period  Capital Investment  Political climate  Trade unions  Technological changes We Learn – A Continuous Learning Forum
  • 23. Welingkar’s Distance Learning Division Obstacles of Planning  Unreliability of forecasts  Recurrence of same type of problems  Expensive  Loss of initiative We Learn – A Continuous Learning Forum

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