June 25, by Kasia Mikoluk Planning is the part of management concerned with creating procedures, rules and guidelines for achieving a stated objective.
Planning Function of Management Planning Function of Management Planning means looking ahead and chalking out future courses of action to be followed. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job.
Planning is a detailed programme regarding future courses of action. It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources.
Planning is deciding best alternative among others to perform different managerial functions in order to achieve predetermined goals.
Planning bridges the gap between where we are to, where we want to go. Steps in Planning Function Planning function of management involves following steps: Planning starts with the setting of goals and objectives to be achieved.
Objectives provide a rationale for undertaking various activities as well as indicate direction of efforts. Moreover objectives focus the attention of managers on the end results to be achieved. As a matter of fact, objectives provide nucleus to the planning process.
Therefore, objectives should be stated in a clear, precise and unambiguous language. Otherwise the activities undertaken are bound to be ineffective. As far as possible, objectives should be stated in quantitative terms. For example, Number of men working, wages given, units produced, etc.
But such an objective cannot be stated in quantitative terms like performance of quality control manager, effectiveness of personnel manager. Such goals should be specified in qualitative terms. Hence objectives should be practical, acceptable, workable and achievable.
Establishment of Planning Premises Planning premises are the assumptions about the lively shape of events in future. They serve as a basis of planning. Establishment of planning premises is concerned with determining where one tends to deviate from the actual plans and causes of such deviations.
It is to find out what obstacles are there in the way of business during the course of operations. Establishment of planning premises is concerned to take such steps that avoids these obstacles to a great extent.
Planning premises may be internal or external. Internal includes capital investment policy, management labour relations, philosophy of management, etc.
Whereas external includes socio- economic, political and economical changes. Internal premises are controllable whereas external are non- controllable. Choice of alternative course of action When forecast are available and premises are established, a number of alternative course of actions have to be considered.
For this purpose, each and every alternative will be evaluated by weighing its pros and cons in the light of resources available and requirements of the organization. The merits, demerits as well as the consequences of each alternative must be examined before the choice is being made.
After objective and scientific evaluation, the best alternative is chosen. The planners should take help of various quantitative techniques to judge the stability of an alternative. Formulation of derivative plans Derivative plans are the sub plans or secondary plans which help in the achievement of main plan.
Secondary plans will flow from the basic plan.
These are meant to support and expediate the achievement of basic plans. These detail plans include policies, procedures, rules, programmes, budgets, schedules, etc.
For example, if profit maximization is the main aim of the enterprise, derivative plans will include sales maximization, production maximization, and cost minimization.
Derivative plans indicate time schedule and sequence of accomplishing various tasks. Securing Co-operation After the plans have been determined, it is necessary rather advisable to take subordinates or those who have to implement these plans into confidence.
The purposes behind taking them into confidence are:The Ownership Structure section describes the legal structure of your business.
It may be a single sentence if your business is a sole initiativeblog.com your business is a partnership or a corporation, it may be longer; you want to be sure you explain who holds what percentage of ownership in the company.
Jun 25, · Planning is the part of management concerned with creating procedures, rules and guidelines for achieving a stated objective.
Planning is carried out at both the macro and micro level. Managers need to create broad objectives and mission statements as well as look after the day to day running of the initiativeblog.com: Kasia Mikoluk. Learn how to make a difference within your community by following our guide to being a successful community leader.
The management functions of planning, organizing, leading, and controlling are widely considered to be the best means of describing the manager’s job, as well as the best way to classify accumulated knowledge about the study of management.
The management plan section of the business plan includes your management team and your human resources needs. Here's how to write it.
Planning is the process of thinking about the activities required to achieve a desired goal. It involves the creation and maintenance of a plan, such as psychological aspects that require conceptual skills.