Planning is deciding in advance what to do, how to do, when to do and by

whom is to be done.1… A plan is a trap laid to capture

the future.2… Planning is an ability to visualize

a future process and its results.3… A plan is a strong-minded course

of action.

The following are the main characteristics of planning

1… Planning is looking into the future.2… Planning involves programmed line of

action.3… Planning requires considerable time for

implementation.4… Planning is a continuous process.5… Planning object is to achieve

programmed objectives in a better way.

6… Planning integrates various activities of organization.

7… Planning is done for a specific period.8. Planning is required at all levels of

management.9… Planning not only selects the

objectives but also develops programs and procedures to achieve the objectives.

10… Growth and prosperity of any organization depends upon planning.

1… Planning is primary. Planning is the primary function of all the

other functions. The reason is that the manager wants to achieve the fixed objectives in a better way.

2... A thinking Process. It deals with thinking in a creative way as to

how the existing combination of resources may be adjusted and adopted.

3… Planning is Flexible. Planning selects the best choice based on

certain assumptions. If the assumptions proved wrong, the selected choice will be an incorrect one.

4… Planning is a continuous process. Planning does not come to an end with

the establishment of a business. A number of decision are taken during the life time of business concern. So planning is important throughout the running of business.

5... Planning is common to all. Planning work is done by every person

working in a business unit. He may be a managing director or a foreman.

6... Basis for all managerial Functions. Planning is found at all levels of

management .top level management, middle level management, lower level management.

1… Importance of planning. Planning logically precedes all other

managerial functions like organizing, staffing, controlling etc.

2… Focusing on objectives. Organization wants to achieve certain

objectives. Planning defines these objectives more clearly and make the way of action to achieve them.

3… Providing the basis for control. There can be no real control without planning

some control is necessary to see that the work is according to plan.

4... Helping management. Managerial functions in an

organization require co-ordination for which beginning is made at planning stage various departments work in unity with the overall plans to the goal.

5… Minimizing cost of performance. planning involves a lot of

time ,money and energy in the formulation. If it is formulated and implemented in right way it will give good results.

1… Standing Plans.These serves as a guidelines to

managerial action, because once the decision is made it stands. these bring consistency to the operations. Standing plan are used where an activity occurs repeatedly.

(plans in bank regarding loans interest for all)

2... Single-use plans. These plans are designed for a

specific periods or goals. The plan closed when the goals are achieved.

3... Long-range plans. These are the strategic plans

of the organization. To become a leader in its industry may be a long-range plan for an organization. Its takes time to achieve this goal. Under this plan, assumptions must be made about controllable and uncontrollable variable.

4… Intermediate plans. These plans follow up once

the long-range plans are formulated To become a leader in its industry an organization may plan to set up district sales offices for realization of long range plane.

5… Short-Range Plane. These plane provide the

guidelines for day-to-day action in the organization.

6… Marketing Plans. The objectives of this plan is to

increase the number of customers and produced the new products.

7… Production Plans. The objectives of this plan is

to produced the amount of product according to the demand of market.

8… Financial Plans. The objective of such type of

plan provide basis for decision making and control.

9… Strategic Plans. This type of plan determines

the major goals of complete organization and policies and to show the direction for achieving those goals.

10… Tactical plans. The objective of this plan is to

determine the suitable way to utilize the organization resources to achieve the strategic goals of organization.

Setting Goals Situational Analysis Search for opportunities Course of Action 1.Explore alternatives2.Evaluate alternatives3.Choose the best alternatives Budget allocation Implementation & Review