Planning is an essential function of management. Effective planning results in early achievement of objectives.
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This documents provides a glance on the planning activity by illustrating the associated concepts such as,
Nature of Planning
Importance and purpose of planning process
Steps in Planning and Planning Premises
Types of plans
Objectives
Decision Making
Types of planning
Hierarchy of plans
Planning is an essential function of management. Effective planning results in early achievement of objectives.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
This documents provides a glance on the planning activity by illustrating the associated concepts such as,
Nature of Planning
Importance and purpose of planning process
Steps in Planning and Planning Premises
Types of plans
Objectives
Decision Making
Types of planning
Hierarchy of plans
A process of monitoring , comparing ,correcting performance and taking action to ensure desired results.
It sees to it that the right things happen, in the right ways, and at the right time
What is a Importance of Planning in business organisation, point to point define here, planning reduces uncertainty, make objective clear, provide basic control,
Budgeting is a process of looking at a business estimated incomes and expenditures over a specific period in the future. It allows a business to see if they will be able to continue operating at their expected level with these projected incomes and expenditures
A process of monitoring , comparing ,correcting performance and taking action to ensure desired results.
It sees to it that the right things happen, in the right ways, and at the right time
What is a Importance of Planning in business organisation, point to point define here, planning reduces uncertainty, make objective clear, provide basic control,
Budgeting is a process of looking at a business estimated incomes and expenditures over a specific period in the future. It allows a business to see if they will be able to continue operating at their expected level with these projected incomes and expenditures
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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2. Introduction
• Planning is essential in every walk
of life
• Planning is the first and foremost
function of management
• The planner can develop his
efficiency by preparing himself to
face the future developments
3. Objectives
• At the end of the chapter you will
be able to understand
– The characteristics, objectives and
nature of planning
– Importance and advantage of planning
– Understand steps, methods and
limitations of planning
– Essentials of good planning and the
obstacles involved
4. Meaning
• Planning is as
intellectual process
of thinking resorted
to decide a course
of action which
helps to achieve
the pre-determined
objectives of the
organization in
future
5. Definitions
• According to
– Koontz and O'Donnell: Planning is
deciding in advance what to do, when and
how to do and who is going to do it
– Terry: Planning is the selecting and
relating the facts
– Allen: A plan is a trap laid to capture the
future
6. Definitions
• According to
– Kast and Rosenzweig: A plan is
determined course of action
– J.P. Barger: Planning is an ability to
visualize a future process and its
results
7. Definitions
• According to
– Cyril L. Hudson: To plan is to produce a
scheme for future action; to bring about
specified results, at specified cost, in
specified period of time
8. Definitions
• According to
– Hamilton Church: Planning is the
exercise of foresight
– Hart: Planning is the determination of the
a line of action in advance by which
certain results are to be achieved
– Alford and Beatty: Planning is the thinking
process, the organized foresight, the
vision based on fact and experience that
is required for intelligent action
9. Characteristics of
Planning
• Planning is looking into future
• Planning discovers the best
alternative out of available many
alternatives
• Continuous process
• Done for specific period
• Required at all levels of
management
• Directs the members of
10. Objectives of Planning
• Reduces Uncertainty
– Planning may convert the uncertainty into
certainty
• Bring co-operation and co-operation
– Planning can bring co-operation and co-
ordination among various sections of
organizations
• Economy in operation
– Planning selects best alternatives
11. Objectives of Planning
• Anticipates unpredictability
contingencies
– The planning provides a provision
to meet contingencies and tackle
them successfully
• Achieving the pre determined goals
– Planning activities are aimed at
achieving the objectives of the
enterprise
12. The Nature of Planning
• Planning: looking ahead to chart
the best courses of future
action.
• Strategic planning: Long range
planning to set organizational goals,
objectives, and policies to determine
strategies, tactics, and programs for
achieving them.
– Top management makes strategic plans.
– Middle Management makes annual
plans (to implement the above).
13. Nature of Planning
• Primary of planning
– Planning, organizing, staffing, directing
and controlling are the main functions
of the management. But planning can
be termed as the primary function
among those
• Planning contribute to objectives
– Planning is based on objectives. It
contributes to the attainment of objectives
14. Nature of Planning
• Planning an intellectual activity
– Planning includes the selection of the best
alternative available and thinking before
selection of the best alternative
• Planning results in higher efficiency
– Planning leads to maximum output with
minimum expenditure
• Planning is a continuous process
– Planning is necessary throughout the
running of the business concern as a
15. Nature of Planning
• Planning is flexible
– Planning selects the best alternative
based on certain assumptions
• Unity and consistency
– Managerial actions of different managers
are unified in order to achieve the
objective
• Planning is common to all
– Planning work is done by every
person who is working in a business
16. Nature of Planning
• Basis for all managerial function
– Top management – strategic planning
– Middle management – administrative
planning
– Lower level management – operational
planning
• Getting co-ordination
– Nothing can be co-ordinated without
planning
• Considering limiting factor
– Every plan is formulated after
18. Forecasting
• Planning and forecasting are two
different processes
• Forecasting is nothing but the
guessing of the future course of
events correctly
• According to Louis A. Allen,
forecasting is a systematic attempt
19. Forecasting :
The Risk Factor
• You reduce risk when you
collect relevant data and
apply it to your forecast.
• In some foodservices the
degree of certainty about
tomorrow is high.
• Contingency Plan: Reduce
risk by having a alternate
plan in reserve.
• Keeping records can reduce the
risks
for repetitive situations.
20. Importance of Planning
• Planning is an important and basic
function of management
• Orderly procedure is possible through
planning
• According to George Terry, planning is
basic to the other fundamental
management functions
21. Importance of Planning
• Defective planning and inadequate
planning leads to failure of the
organization
• Without plans, action must become
merely random activity producing
nothing but chaos
• It is very difficult to continue the
business under uncertain and ever
22. Important Reasons
for Planning Function
• To manage by objectives
– Planning makes the organization
focus on the objectives for early
achievement
• Convert uncertainty into certainty
– The planning provides necessary
provisions to face the uncertainties
predicted by forecasting
• Economy in operation
– Planning selects any one of the available
23. Important Reasons
for Planning Function
• Help in co-ordination
– Co-ordination is obtained by the
management through planning,
published policies, programs and
procedures
• Tackling increasing complexities of
business
– Many people with different qualifications
are needed to run the business
• Effective control
24. Important Reasons
for Planning Function
• Effective utilization of resources
– Planning involves deciding in
advance of the business activities
• Avoiding business failure
– Planning includes the selection of the best
objectives, economy in operation, co-
ordination and avoiding the business
failure
25. Advantages of
Planning
• Better utilization of resources
– Planning decides what to produce
and how to produce
• Helps in achieving the objectives
– Planning sets goals for the organization
which gives effective direction to the
control of employees of the organization
• Economy in operation
– Unnecessary production, ineffective
utilization and unnecessary activities are
eliminated through planning
26. Advantages of
Planning
• Minimizes future uncertainties
– Planning foresees the changes and
uncertainties taking shape in future and
devices methods to face them
• Improves competitive strength
– Competitive strength is improved by
adding new line of products changes in
quality.
• Effective control
– Control is only when there is a well-
27. Advantages of
Planning
• Motivation
– A well-prepared plan encourages the
employees of an organization and gives
them sense of effective participation
• Co-operation
– Planning helps the management pull the
individual to achieve common objectives
or goals
• Promote growth and improvement
– Planning sets a standard to control
28. Advantages of
Planning
• Develops rationality among
management executives
– Disciplined thinking of management
executives in geared up through formal
planning
• Prevents hasty judgment
– It is possible to plan in advance as to
what will be done and know how it will
be done
• Reduces red-tapism
29. Advantages of
Planning
• Encourages innovative thought
– A good plan should provide a basis for
new thinking in any individual
• Improves ability to cope with change
– Planning helps managers improve their
ability to cope with changes but it can
not prevent the changes from
happening
• Creates forward looking attitude in
management
– Planning helps a manager to become
30. Advantages of
Planning
• Development of efficient methods
– Planning helps the management
develop efficient methods and
procedure of actions
• Delegation of authority facilitation
– A well-prepared plan will always
facilitate the delegation of authority
• Anticipation of crisis
– With careful planning , the management
can reduce the internal organizational
31. • Plan what is to be
done
• Organize how it is
to be done
including staffing
and coordinating
• Direct the work that
is to be done
• Control or evaluate
what has been
The Management
Process
32. • Define the purpose or
problem and set objectives
• Collect and evaluate data
relevant to forecasting the
future (focus on the present)
• Develop alternative
courses of action
• Decide on the best course of
action
• Carry out the plan
The Planning Process
33. Steps in Planning
Process
• Analysis of external environment
– It is necessary to consider the external
environment of an organization which
includes socio-economic conditions and
political conditions prevailing in the
country
• Analysis of internal environment
– It can be called as Resource audit,
which means analysis of the strength
and weaknesses of an organization
34. Steps in Planning
Process
• Determination of objectives
– The objectives of an organization are
pre-planned which specify the result
expected
• Determining planning premises and
constraints
– Planning is forward looking and based on
forecasting which can be done in
following ways:
• The expectations of volume of sales
• What kind of products are to be sold and in
35. Steps in Planning
Process
• Examination of alternative courses of
action
– Management should find the alternative
ways and examine them in the light of
planning premises
• Weighing alternative course of action
– There is need for weighing all the
alternatives to determine the best
alternative since all the alternatives
are not suitable for an organization
36. Steps in Planning
Process
• Selection of the best alternative course
of action
– The selection of the best alternative id
based on the weighing of various
alternatives.
• Establishing the sequence of activities
– The determined course of action is
adopted for each section or department,
product, for a quarter, month, week etc.
• Formulation of action programmes
– The term action programmes includes
37. Steps in Planning
Process
• Determining secondary plans
– The preparation of a secondary plan is
necessary to expedite the achievement
of the basic plan
• Securing participation of employees
– The successful execution of any plan
depends upon the extent of participation
of employees
• Follow-up and evaluation
– The shortcomings of planning can be
identified through a follow-up action
38. Methods of Planning
• According to the usage and nature of
planning, the methods of planning
are divided in 3 categories
– Objective Plans
– Standing Plans
– Master Plans
• Objective plans
– Objectives are treated as basic plans.
– Basic plans are necessary for all types
of planning operation
39. Methods of Planning
• Standing plans
– These include policies and procedures
– Are liable to repetitive actions
– Provide a ready guideline for solving
recurring problems
– Standing plans limit the freedom of the
manager for ensuring integrated and co-
operative actions
40. Methods of Planning
• Master plans
– Covers the complete course of action
along with consideration of time and
strategy
– If plans are prepared function-wise,
may be concerned with production,
sales, purchase, and similar activities
41. Limitations of Planning
• Inflexibility
– Inflexibility arises an account of the
philosophy of management
• Limitation of forecasts
– If there is any defect in forecasts, the
planning will lose its value since it is
fully based on forecasts
• Unsuitability
– There is need for modernization of
alteration of framed objectives and
policies in the light of new opportunities
42. Limitations of Planning
• Time consuming
– To prepare a plan, the management has to
collect various information and hold
discussions with others hence planning is
time consuming process
• Costly
– Procedures in the planning work
can not be completed without
incurring any expenses
• Mental ability
– Planning is a mental exercise. The most
43. Limitations of Planning
• False sense of security
– The course of action in planning is
limited and planning become precise
• Delay during emergency period
– Planning does not give nay
benefits to an organization during
the emergency period
• Capital investment
– If the sizable amounts are invested in
fixed assets, the ability to change future
course of action will be limited and
44. Limitations of Planning
• Political climate
– Government can change its attitudes
according to the changes of the political
climate
• Trade union
– The freedom of planning is restricted
through the organization of trade union
at national level
• Technological changes
– The management has to face the
number of problems where there is a
45. Obstacles in Planning
Planning may face certain
difficulties in the planning which
are summarized below:
• Unreliability of forecasts
• Recurring of same type of
problems
• Expensive
• Loss of initiative
46. Summary
• Planning the first and foremost
function of management
• Some of the characteristics of planning
are looking into the future, involves
predetermined line actions
• Planning contributes to objectives
• Planning is an intellectual activity
47. Summary
• Planning give economy in
operation, motivation
• Some of the steps of planning
include analysis external and
internal environment
• Planning is sometimes inflexible,
unsuitable