Planning is a fundamental management function that involves setting objectives, strategies, and actions to achieve goals. It deals with selecting missions and objectives, and preparing for and addressing changes. Planning is goal-oriented, future-oriented, involves decision-making, and is flexible, integrated, continuous, hierarchical, involves resource allocation, problem-solving, communication, and monitoring and control. Effective planning acknowledges that circumstances may change and allows adaptation.

1. Nature
of
planning

2. Planning is a fundamental
and essential management
function that involves the
process of setting
objectives, determining
strategies and tactics, and
outlining the actions
necessary to achieve
specific goals.

3. Planning
Deals with selecting missions
and objectives and the actions
to achieve them.
 Planning plays a vital role for
us to prepare and deal with
change.
Planning addresses prospective
changes in business objectives
and the forces affecting the
company.

4.  Planning plays a vital role
for us to prepare and deal
with change.
 Planning addresses
prospective changes in
business objectives and
the forces affecting the
company.

5. The nature of planning
can be understood
through the following
key characteristics:

6. Goal-Oriented: Planning
begins with the establishment
of clear and specific goals or
objectives. These objectives
provide a direction for the
organization or individual to
work towards. Goals should be
realistic, measurable, and
time-bound.

7. Future-Oriented: Planning is
inherently forward-looking.
It involves anticipating
future events, trends, and
conditions, and making
decisions today to prepare
for and respond to those
future circumstances
effectively.

8. Decision-Making: Planning
involves making a series of
decisions, such as what
goals to pursue, which
strategies to adopt, and
what resources to allocate.
These decisions are based
on analysis, data, and a
consideration of various
alternatives.

9. Flexibility: Effective
planning acknowledges that
circumstances may change,
and it allows for adaptation.
Plans should be flexible
enough to adjust to
unexpected developments
or changing conditions.

10. Integration: Planning is
integrated with other
management functions,
such as organizing, staffing,
directing, and controlling. It
provides the foundation for
these functions by setting
the framework within which
they operate.

11. Continuous Process:
Planning is not a one-time
activity but an ongoing
process. It involves regular
monitoring and adjustment
to ensure that goals are
being met and that the
organization or individual is
on the right track.

12. Hierarchical: Planning occurs at
different levels within an
organization. It starts at the top
with strategic planning, which
sets the overall direction of the
organization. Then, it cascades
down to lower levels, including
tactical and operational planning,
which specify how to implement
the strategies.

13. Resource Allocation:
Planning involves the
allocation of various
resources, including
financial, human, and
physical resources, to
achieve objectives
efficiently. Effective resource
management is a critical
aspect of planning.

14. Problem-Solving: Planning
often involves identifying
problems or challenges that
may hinder the achievement
of goals and devising
strategies to overcome
them.

15. Communication: Planning
requires effective
communication to ensure
that all stakeholders are
aware of the objectives,
strategies, and actions. This
facilitates coordination and
collaboration within an
organization.

16. Monitoring and Control: As
plans are implemented, they
need to be monitored and
controlled to ensure that
they stay on course and
achieve the desired results.
Adjustments may be
necessary if deviations
occur.