Planning As A Function of Management
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Dr.Vishnu KumarPlanning As A Function of Management
Uploaded by
Dr.Vishnu KumarPlanning as a function of Management
Planning is a fundamental function of management, and it is essential for the success of any
organization. Planning involves developing a strategy or a course of action to achieve specific
goals and objectives. It is the process of deciding in advance what needs to be done, who will
do it, when it will be done, and how it will be done.
The planning process involves several steps, including:
1. Defining the goals and objectives - This involves defining what the organization
wants to achieve in the short term and long term.
2. Developing a strategy - This involves developing a plan or course of action to achieve
the goals and objectives. The strategy should be aligned with the organization's
mission and vision.
3. Creating an action plan - This involves breaking down the strategy into actionable
steps, assigning responsibilities, and setting deadlines.
4. Allocating resources - This involves identifying the resources needed to execute the
action plan, such as personnel, finances, and technology.
5. Monitoring and evaluating progress - This involves monitoring the implementation of
the plan and evaluating the results to determine if the organization is on track to
achieving its goals.
The importance of planning in management cannot be overstated. It is the foundation upon
which all other functions of management are built. Without effective planning, the other
functions of management, such as organizing, leading, and controlling, will not be effective.
Effective planning helps an organization to:
1. Achieve its goals and objectives - By defining clear goals and objectives and
developing a strategy to achieve them, an organization can focus its efforts and
resources towards achieving those goals.
2. Anticipate and prepare for future changes - By planning for the future, an organization
can anticipate changes in the market, industry, or economy and prepare for them.
3. Coordinate and align resources - By allocating resources effectively, an organization
can ensure that its personnel, finances, and technology are aligned with its goals and
objectives.
4. Minimize risks and uncertainties - By identifying potential risks and uncertainties, an
organization can develop contingency plans to mitigate those risks and uncertainties.
5. Improve decision-making - By having a clear plan and strategy, an organization can
make informed and effective decisions.
In conclusion, planning is an essential function of management. It involves developing a
strategy or course of action to achieve specific goals and objectives. The planning process
includes defining goals and objectives, developing a strategy, creating an action plan,
allocating resources, and monitoring and evaluating progress. Effective planning helps an
organization to achieve its goals and objectives, anticipate and prepare for future changes,
coordinate and align resources, minimize risks and uncertainties, and improve decision-
making. Without effective planning, the other functions of management will not be effective,
and the organization will not be able to achieve its goals and objectives.
