Planning

1. Name : Joseph varghese
Option: Commerce
Topic: Planning
Register number: 19014341003

2. WELCOME

3. MEANING
Planning is deciding in advance what is to be
done , where, how and by whom it is to be
done. It is a process which involves ‘ thinking
before doing’ on the basis of it a manager lays
down future objectives and charts out a
course of action to achieve them.

4. DEFINITION
Koontz and o’ Donnell:
Planning is “ the selection from among
alternatives for future course of action for the
enterprise as a whole and each department
within it”

5. FEATURES OF PLANNING
Planning is mental activity
Planning is goal oriented
Planning is forward- looking
Planning ia a primary functions of management
Planning is based on facts
Planning pervades all managerial activity
Planning is flexible
Planning is essentially decision-making
Planning involves ethical considerations

6. IMPORTANCE OF PLANNING
• Minimises uncertainty
• Tackling complexities of modern business
• Emphasise on objectives
• Promotes co-ordination
• Facilitates control
• Improves competitive strength
• Economical operations
• Encourages innovation

7. KINDS OF PLANS
i. Financial or non- finacial plan
ii. Formal or informal planning
iii. Short- range and long-range planning
iv. Standing and adhoc planning
v. Administrative and operational planning

8. STEPS IN PLANNING
1. Setting the objectives
2. Develop planning premises
3. Determine alternative course of action
4. Selecting the best alternative
5. Formulating derivative plans
6. Implementation of plans
7. Follow up

9. LIMITATIONS
Costly process
Time consuming process
Rigidity
Influence of external factors
Limited scope
Non- availability of data
People’s resistance

10. THANK YOU