Planning enables management to command the future rather than being swept away by future. In a fast changing environment the need for planning is all the more important because risk and uncertainty increase. In such an environment contingent plans can be prepared. A plan may be defined as detailed course of action designed today to do something tomorrow. Thus, planning [...]
Everything you need to know about the features of planning. Planning is the fundamental function of management. All other functions of management like organising, directing, controlling are undertaken after planning. It helps in determining the course of action to the followed for achieving various organisational objectives. A planner foresees opportunities and devises ways and means to take advantage from them. [...]
Everything you need to know about the steps involved in planning process. Planning is a process, which embraces a number of steps to be taken. It is an intellectual exercise and a conscious determination of courses of action. Therefore, it requires a serious thought on numerous factors necessary to be considered in making plans. Facts are collected and analyzed and [...]