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L E A R N I N G OBJECTIVES. After studying this chapter, you will be able to: State the meaning of planning; Describe the features and importance of planning; Analyse the steps in the planning process; and. Explain the limitations of planning; Identity the different types of plans.
The essential nature of planning can be highlighted by the four major aspects of planning: contribution to purpose and objective, primacy of planning, pervasiveness of planning, and efficiency of plans. Contribution to Purpose and Objectives, Contribution to Purpose and Objectives:
Thus, the fundamental objectives of our development planning have been to secure rapid economic growth, modernisation, self-reliance, reduction in disparities of income and wealth, prevention of concentration of economic power, and creation of values and attitudes of a free and equal society.
Planning involves setting objectives and deciding in advance the appropriate course of action to achieve these objectives so we can also define planning as setting up of objectives and targets and formulating an action plan to achieve them.
Objectives. After reading this unit, you should be able to: Understand the meaning of planning as a management function. Characteristics of planning function. How planning process takes place. Merits and demerits of planning function and various types of planning.
While planning, one should look at the advantages of planning and be very dear as to what kind of planning one is going in for. The various steps in planning and decision making mentioned in the Unit will be of use to you either as a Manager or as an entrepreneur.
Introduction. Planning is a part of each person’s life; be it a student, home maker, doctor, engineer. Each of us does planning as soon as we get up. We make daily plans, weekly plans sometimes monthly and yearly plans. We also have planning for our life which is long term.
