Search results
Plan, the thought process, action, and implementation
- Planning includes the plan, the thought process, action, and implementation. Planning gives more power over the future. Planning is deciding in advance what to do, how to do it, when to do it, and who should do it. This bridges the gap from where the organization is to where it wants to be.
en.wikipedia.org/wiki/Planning
People also ask
What are the aspects of planning?
What are the components of planning?
What is the role of planning in management?
Why is planning important?
Dec 3, 2016 · Definition: Planning is the fundamental management function, which involves deciding beforehand, what is to be done, when is it to be done, how it is to be done and who is going to do it.
- Strategic Planning
Strategic Planning is an analytical process which formulates...
- Human Resource Planning Process
Human Resource Planning Process. Determining the Objectives...
- Succession Planning
Succession Planning is a part and parcel of the Human...
- Controlling
Controlling is a backwards-looking function which brings the...
- Gap Analysis
Performance Gap: The difference between expected performance...
- Material Management
Definition: Materials Management is one of the main...
- Strategic Planning
- Mission
- Browse More Topics Under Planning
- Objectives
- Policies
- Procedures
- Budget
- Programme
- Strategies
This is one of the first components of planning. The mission of an organization basically dictates its fundamental purposes. It describes what exactly it wants to achieve. The mission may be either written or implicit from the organization’s functioning. A mission statement describes who the products and customers of a business are. It shows the di...
Objectives represent the end results which an organization aims to reach. We can also refer to it as goals or targets. Not just planning but all factions of business management begin with the setting of objectives. In terms of the types of objectives, they may be either individualistic or collective. They can even be long-term and short-term depend...
Policies are basically statements of understanding or course of action. They guide the decision-making process for all activities of the organization. Consequently, they impose limits on the scope of decisions. For example, a company might have a policy of always paying a minimum dividend of 5% of profits. So, when it decides to pay a dividend, the...
Procedures are some of the most important components of planning. They describe the exact manner in which something has to be done. They basically guide actions for activities that managers and employees perform. Procedures also include step-by-step methods. Even rules regulating actions come within the ambit of procedures. The planning process mus...
Budgets are plans that express expected results in numerical terms. Whenever an organization expects to do something, it can make a budget to decide on its target. Most activities, targets, and decisions require budgeting. For example, an income budget shows expected financial results and profits.
A programme is nothing but the outline of a broad objective. It contains a series of methods, procedures, and policies that the organization needs to implement. In other words, it includes many other components of planning. For example, a business may have a diversification programme. Consequently, it will make budgets and policies accordingly for ...
A strategy in simple words refers to minute plans of action that aim to achieve specific requirements. Proper implementation of strategies leads to the achievement of the requisite goals. The nature of an organization’s values and missions will determine how it will strategize.
- Planning is goal-oriented. Planning is made to achieve desired objective of business. The goals established should general acceptance otherwise individual efforts & energies will go misguided and misdirected.
- Planning is looking ahead. Planning is done for future. It requires peeping in future, analyzing it and predicting it. Thus planning is based on forecasting.
- Planning is an intellectual process. Planning is a mental exercise involving creative thinking, sound judgement and imagination. It is not a mere guesswork but a rotational thinking.
- Planning involves choice & decision making. Planning essentially involves choice among various alternatives. Therefore, if there is only one possible course of action, there is no need planning because there is no choice.
May 7, 2022 · Planning is the primary function of management that involves formulating a future course of action for accomplishing a specific purpose. Planning enables managers to decide what task to do, how to do the task, when to do the task and by whom the task has to be done. Table of Content.
The planning has following aspects: Contribution to purpose: – Planning helps in the achievement of enterprise goals and objectives. Plans focus on purposes. Planning identifies irrelevant actions and helps in determining actions which will lead toward the accomplishment of objectives and thus reduces wastages as well.
Oct 11, 2023 · Planning is a crucial aspect of any successful endeavor, whether it’s a personal goal or an organizational strategy. It provides a roadmap to navigate the complexities and uncertainties of the future, helping us make informed decisions and achieve our desired outcomes.
Jul 24, 2023 · There are many different types of plans and planning. Strategic planning involves analyzing competitive opportunities and threats, as well as the strengths and weaknesses of the organization, and then determining how to position the organization to compete effectively in their environment.
