Definition Of Planning In Business

Definition Of Planning In Business-34
Planning is an important function of management, it tells the manager where the organization should be headed. Let us take a look at some important functions of planning.Planning means coming up with a predetermined action plan for the organization.

Planning is an important function of management, it tells the manager where the organization should be headed. Let us take a look at some important functions of planning.Planning means coming up with a predetermined action plan for the organization.

Planning requires innovation, creativity and multi-tasking from the managers.

And planning is a function that managers of all levels must perform, i.e upper, middle and lower management.

Planning bridges the gap between where the organization currently find itself and where it wishes to be.

So in essence business planning comprises of setting objectives for the organization and developing a plan of action to achieve these objectives.

It sets up the stage for all further functions of management like organizing, directing etc. We already know what planning is, it is the deciding of what is to be done in advance.

It is the groundwork for all future plans of the organization.

So it allows the managers to prepare for these changes, and allow them to deal with the uncertainties.

Planning takes into consideration past events and trends and prepares the managers to deal with any uncertain events.

Just like management is a never-ending activity, so is planning.

In fact business planning, it is one of the primary functions of management.

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Comments Definition Of Planning In Business

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