Planning - Nature, Elements, Process, Approach, Importance - BBA|mantra (2024)

FAQs

Planning - Nature, Elements, Process, Approach, Importance - BBA|mantra? ›

Planning is an intellectual process which requires a manager to think before acting. It is thinking in advance. It is by planning that managers of an organisation decide what is to be done, when it is to be done and how it is to be done and who is going to do it. Decision making is thus an integral part of planning.

Planning is an intellectual process which requires a manager to think before acting. It is thinking in advance. It is by planning that managers of an organisation decide what is to be done, when it is to be done and how it is to be done and who is going to do it. Decision making is thus an integral part of planning.

Why is planning important? It helps us to identify our goals clearly. It makes us decide clearly and concretely what we need to do to have the effect on society that we want. It helps us make sure that we all understand our goal and what we need to do to reach it by involving everyone in the planning process.

The 4 types of planning are strategic, operational, tactical, and contingency planning. What is the planning process?

The entire process of planning consists of many aspects. These basically include missions, objectives, policies, procedures, programmes, budgets and strategies.

Importance of Planning

By stating the objective in advance, planning provides unity of direction. Proper planning makes goals clear and specific. It helps the manager to focus on the purpose for which various activities are to be undertaken. It means planning reduces aimless activity and makes actions more meaningful.

In particular, planning will help you set the right goals, reduce future uncertainties, achieve efficient use of human and material resources, engage employees, and much more.

The first, and most crucial, step in the planning process is to determine what is to be accomplished during the planning period. The vision and mission statements provide long-term, broad guidance on where the organization is going and how it will get there.

What is the main purpose of planning? ›

Planning gives a sense of direction and ensured that efforts are being put to useful purpose instead of being wasted. Planning also facilitate control because without planning there will be nothing to control.

Strategic planning process steps

Determine your strategic position. Prioritize your objectives. Develop a strategic plan. Execute and manage your plan.

There are specific steps to follow in the planning process, beginning with the development of objectives, then proceeding with developing tasks to meet objectives, determining needed resources, creating a timeline, determining tracking and assessment, and finalizing the plan.

Planning entails setting objectives and choosing the best path of action in advance. Time is a crucial component in planning. Plans are always made for a specific period because no firm can plan indefinitely. Planning is essential for all organisations, whether public or private or run by sole proprietors.

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. Thus, decision making is an integral part of planning.