Planning is the essence of modern management. Generally speaking planning is deciding in advance want is to be done. Planning helps in determining the course of action to be followed for achieving various organizational activities. Planning involves the choosing of a course of action from all available alternatives for accomplishing the desired results with greatest economy and certainty. The proposed [...]
Everything you need to know about the importance of planning in Business. "Planning without action is futile, Action without planning is fatal". Planning is the conscious, systematic process of making decisions about goals and activities that an individual, group, work unit, or organization will pursue in the future, It refers to the process of deciding what to do and how [...]
Everything you need to know about the process of planning. Planning is deciding in advance what is to be done; it is a projected course of action. To plan is to propose a forward programme for guiding the future affairs of an enterprise. Planning is the opposite of improvising. "It is organised foresight plus corrective hind sight." The planning process [...]
Joseph Massif & John Douglas give the following requirements for sound objectives:-
The formulation of plans takes time. This itself is expensive. Further, the collection of data necessary for planning has to be made on a continuing basis. This requires separate organisation for planning.
Top Management Support: Planning should start from the top. As Koontz, O'Donnell and Weihrich have pointed out, "the example and drive of top managers are the most important single force in planning".
These connote establishing objectives for the entire organisation and then for each subordinate units.
It is conducted by top management and is the process of determining the overall objectives of the organisation and the policies and strategies adopted to achieve those objectives. It is a long range planning and may cover a time period, say 5 or 10 year.
It implies "to leave the well enough alone". If the environment is stable and the organisation is doing well then it is better to make no changes.
Any organisation should have definite aim. The aim should be clearly defined so that it can guide and direct the activities of the enterprise. The main aim of a cooperative organisation is to do service and to improve the economic conditions of members.