Management planning is the managerial function, it involve objectives of action for achieving an organization's objective. Management planning is a selecting mission and objective to inform regarding the future to activities necessary to achieving organizational goals. Planning is the process of using related fact and future assumption activities required to achieve a desired of organizational objectives. The planning process identifies, formulates strategies, arranges and implementation are proper sequence. So, planners must they attempt to forecast future conditions. These forecasts form the basis for planning.
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Definition
According to Henry Fayol, “The plan of action is, at one and the same time, the result envisaged, the line of action to be followed, the stages to go through and the methods to use.”
According to G.R.Terry, “Planning is selecting information and making assumptions regarding the future to formulate activities necessary to achieve organizational objectives.”
According to S.P.Robbins, “Planning involves defining the organization’s objectives or goals, establishing an overall strategy for achieving these goals and developing a comprehensive hierarchy of plans to integrated and co-ordinate activities”
According to Prof. R. W.Griffin, “Planning means setting on organization’s goals and deciding how best to achieve them.”
Nature
Natural of planning is the management function its importance of regarding future activities process. The planning depends on effective of management. The nature of planning is given below:
- Primacy of planning
- Mental- thinking process
- Assumption regarding the future course of action
- Goal- orientation of planning
- Efficiency of planning
- Dependency of facts and information
- Best alternative
- Flexibility of planning
- Analytical process of planning
- Pervasiveness of planning
- Continuity
12 Step by step of management planning
Various steps by step of management planning is the future activities process. The following major of step by step of management planning are given below:
- Evaluating future situations in light of the present
- Assumptions regarding the future
- Determination of specific objective
- Collection and analysis of proper information
- Establishing planning premises
- Determine the alternative courses of action
- Evaluation of alternative courses of action
- Selecting the best alternative
- Formulating derivation plan
- Determine the time and programmers of commencement
- Evaluate progress of the proposed plan
- Follow- up and taking corrective action
Importance of management planning
The success of a business depends on the efficacy of management planning. For this, Management planning is regarded as bridge of business. The importance of management planning is below:
- Aid to attainment of objectives
- Development of organization
- Optimum utilization of factors of production
- Reducing of cost
- Achieving efficiency
- Establishment
- Assistance to other managerial
- Proper solution of problems
- Restoring order and discipline
- Forecasting
- An aid to control
- Decision making
- Easy co- ordination
- Reducing wastage
Types of planning premises
Planning premises are the expected environment in which planning to operate. The planning process of plans may be different. Generally, the following forms of planning premises are funded:
According to control ability
- Non- controllable planning premises
- Semi- controllable planning premises
- Controllable planning premises
According to geographical location
1. Internal planning premises
- The Sales forecast
- Productivity
- Financial capacity
- Capacity to investment
- Industrial relationship
- Organization policy and procedure
- Organizational structure
- Labor – management relationship
2. External planning premises
Local external premises
- Political condition
- Economic condition
- Purchasing power of customers
- Competitors condition
- Law and order situation
- Factors of production, supply condition
- Demand of product
- National income and growth
- Technological development
- Government policy
International premises
- Condition of international trade
- International demand of goods
- Condition of the international competitors
- International trade contracts
- Improved technology
Relationship of other managerial function with planning
Management planning is the process of first and major function. Its logically process of all other managerial functions. Planning and management with the relationship of other managerial function with planning is below:
- Planning and organization
- Planning and staffing
- Planning and direction
- Planning and motivation
- Planning coordination
- Planning and controlling
Ways to increase the effectiveness of planning
Increase the Effectiveness of the planning process involves following:
- Clear understanding of the purpose and goal
- Developing organization for planning
- Establishment of correct planning premises
- Selecting the appropriate method and promises
- Participate in preparing plans
- Development of working environment
- Maintaining communication and creating facilities of participation
- Data based planning
- Planning at the top level
- Revising and updating of existing plans
- Overcoming the limitations of planning
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