Importance of Planning
Prompt realisation of objective :-
Planning result into prompt realisation of the goal of an organisation. Thus, planning shows safe, short, secured way (path) for achievement of goal and objectives.
Facilities organising :-
Planning enable mangers to organise the problem, difficulty & challenge face by the organisation.
Minimise risk :-
Planning help to minimise or reduce risk. Every business organisations has to face certain risks uncertain & unexpected situation. Planning involve detail study of past performance. While preparing the plan, planner make provision for all such risk.
Inporoves efficiency :-
Planning enable option utilisation of resources. All resources physical, financial, human resources are use in the best possible manner.
It also avoid the duplication of work (efforts) & wastage of resources. So time, efforts, energy are saved. It also help in improving productivity & profitability of the organisation.
Planning is an intellectual process :-
It require high thinking and force slighted vision. Such concentrated thinking encourage new ideas, method & technique to perform different job.
Facilitate direction :-
Planning provide proper schedule or time-table. This facilities manager to direct his sub-ordinate so that they will undertake right job at right time.
Measuring Performance :-
With the help of planning performance can be measured Actual performance can be compared with plan performance.
Facilities decision Making :-
Normally, a manager frame alternative plan. After the verification o plan, the best oplan is selected. Thus planning facilities the choice of the best.
Feature of planning
Planning is a basic function :-
Planing is said to be basic, primary or fundamental principles of mgt, All other function such as organising, directing, controlling, staffing depend upon planning. Therefore planning precedes other function. It is a foundation of entire process of management.
Goal oriented :-
Planning is goal oriented activity. At first the target are set and then plans at frame to achieve these targets. Plans are developed & executed to achieve these goals. Planing is meaningless if it is not related to objective.
Continuous activity :-
Planning is a regular and continues activity. It is an on going process. Plans are propose for a specific period of time. At the end of period new plan is prepared.
Level of mgt :-
Planning is necessary at all level of management. The need & scope of planning may change according to level of mgt, but it is needed to all departments.
Planning is pervasive in nature. It is applicable to all functions of management. It is necessary to all levels. Planning is essential for government or non-government organisation, profit or non profit making organisation.
Planning is looking ahead. It is a process of thinking before doing. A good plan should be flexible in order to change with changing situation & conditions. It is dynamic in nature.
Action oriented :-
Planning is action oriented. An ideal requirements of the planning is that it is should be actionable.
Future oriented :-
Planning is a future related activity. Here, necessary forecast are made about the future and accordingly plans are made.
In other word, plans are made for future activities like short term, medium term & long term.
Planning involve thinking before doing. The success of plan depend upon intelligence of manager. A great imagination and intelligence is requires to prepare sound plan. It is an intellectual process of decision making.
Link between Past, Present & Future :-
Planning acts as a link between past, present and future. Planning is a future related activities. It is a past experience that help in preparing future plan.