The document outlines the fundamentals of management planning, describing it as a primary function involving the establishment of objectives, strategies, and procedures necessary for achieving organizational goals. It emphasizes the importance of planning in reducing uncertainty, minimizing costs, and facilitating control while also identifying the limitations and processes associated with effective planning. Additionally, it categorizes planning into various forms, including strategic, tactical, operational, and contingency planning.

1. FUNDAMENTALS OF
MANAGEMENT
UNIT 2
PLANNING
PROF (DR) KANCHAN KUMARI PANDEY
FACULTY OF INTERNATIONAL BUSINESS AND MANAGEMENT

2. PLANNING: CONCEPT
 Planning is deciding in advance what to do, how to do it, when to do it,
and who should do it.
 Planning is the basic and primary function of management.
 It has to be pre-decided to outline the activities in the future. Planning is
forming plans to develop and execute the activity to get the best possible
outcome.
 The management concept of planning includes formulating good policies,
budget segregation, advertisement objectives, marketing strategies, etc.

3. PLANNING: OBJECTIVE
 A management plan is a formal planning tool that aims to design the future operations
of the facility.
 It is a written document that outlines:
 The aims and objectives of the facility —
 What are we trying to achieve?
 The strategies used to meet the objectives —
 How will we achieve it?
 A primary objective of management includes maintaining the quality standards
necessary for the organization.
 The team collaborates with other departments, supervisors and employees to create,
implement and maintain quality

4. PLANNING: NATURE
 Contribution to purpose: – Planning helps in the achievement of enterprise goals and objectives. Plans
focus on purposes.
 Primacy of planning-Planning is the first function of management. All other functions like organising,
staffing, leading and controlling follow planning.
 Pervasive-Planning is not the job of high-level managers only but planning is a function of all managers.
 Planning considers limiting factors-Planning should be realistic. Planning should be done keeping in
mind the available resources. Unrealistic plans can never achieve the desired result.
 Efficiency of plans-Plans must be efficient. Efficient plans contribute to purpose and objectives by
offsetting the costs and other unsought consequences.
 It requires decision-making,
 It describes planning as a primary management function that involves defining goals, strategies, and
coordinated activities to achieve goals.
 Planning provides direction, reduces uncertainty, sets standards, and facilitates decision making

5. PLANNING: LIMITATION
• Planning Creates Rigidity in Process: ...
• Planning Does Not Work in a Dynamic Environment: ...
• Planning Suffocates Originality: ...
• Planning Involves Huge Costs: ...
• Time-consuming Process: ...
• Planning Does Not Guarantee Success:

6. PLANNING: PROCESS
 Environmental analysis: Planning begins with properly analysing ecological factors that create opportunities,
strengths, or weaknesses in a company. The most popular analysis is SWOT, where the internal strengths, opportunities,
and possible threats are analyzed
 Setting objectives: After proper environmental analysis, it is crucial to select the mission and goals of a company to
create a plan
 Develop premises: Planning premises is a factor that decides the future of the business and the ultimate formulation.
Information on various internal factors, such as capital, economic state, price, profitability, production cost, and
many more.
 Determines and evaluates alternative options: A particular objective extracts differently. Identify and consider the
new or alternative way to achieve each aim if one fails.
 Budget formulation: After selecting alternatives, it is crucial to plan for a proper budget to appropriately follow the
plan and make it successful
 Implementation of the plan: Once the program is ready, it is vital to take a step forward to implicate the procedure in
the business.
 Follow-up action: Finally, after the implication, it is vital to follow up the plan correctly to identify any gaps or
success.

7. PLANNING: IMPORTANCE
 To offset uncertainty and changes-Planning is always made in respect to future.
Future is uncertain. Planning assumes more importance in wake of increasing size
and complexities of business organizations.
 To focus attention on objectives-Planning helps in defining the objectives of the
organization clearly. Its directs all efforts towards achievement of the specified
goals.
 Minimise cost-Planning minimizes costs because by emphasising on efficient
operations. It clearly specifies what is required to done and directs the efforts
toward the attainment of the goals.
 To facilitate control- Planning facilitates the function of controlling and therefore it is
considered as the foundation of control. Planning prescribes standards with respect
to work, time and cost.

8. PLANNING: FORMS
 Planning a form involves identifying the purpose of the form,
 determining the necessary fields and their order, and
 deciding on the layout and design.
 It is important to keep the user experience in mind and make the form as easy and
intuitive to use as possible.
 Within planning, there are four major categories:
 Strategic-
 Tactical-
 Operational-
 Contingency planning-

9. Techniques and Process of decision
making
• Step 1: Identify the decision. You realize that you need to make a decision.
...
• Step 2: Gather relevant information. ...
• Step 3: Identify the alternatives. ...
• Step 4: Weigh the evidence. ...
• Step 5: Choose among alternatives. ...
• Step 6: Take action. ...
• Step 7: Review your decision & its consequences.

10. THANK YOU
PROF (Dr) KANCHAN KUMARI