Define 'Planning'. State any four points of importance of planning. (2024)

FAQs

Define 'Planning'. State any four points of importance of planning.? ›

Planing is the fundamental management function, which involves deciding beforehand, what is to be done, when is it to be done, how it is to be done and who is going to do it.

Within planning, there are four major categories: strategic, tactical, operational, and contingency planning.

Planning is ascertaining prior to what to do and how to do. It is one of the primary managerial duties. Before doing something, the manager must form an opinion on how to work on a specific job. Hence, planning is firmly correlated with discovery and creativity. But the manager would first have to set goals.

Planing is the fundamental management function, which involves deciding beforehand, what is to be done, when is it to be done, how it is to be done and who is going to do it.

Planning is deciding in advance what to do, how to do it, when to do it, and who should do it. This bridges the gap from where the organization is to where it wants to be. The planning function involves establishing goals and arranging them in logical order.

Define objectives

The first, and most crucial, step in the planning process is to determine what is to be accomplished during the planning period. The vision and mission statements provide long-term, broad guidance on where the organization is going and how it will get there.

Planning reduces uncertainty and indicates what everyone is expected to accomplish. People are more likely to work toward a goal they know and understand. Plans set performance standards. Planning defines desired outcomes as well as mileposts to define progress.

What are the four rules of planning? ›

There are only four rules you need to remember: make the plan, execute the plan, expect the plan to go off the rails, throw away the plan.

Learning Objectives

While drawing from a variety of academic disciplines, and to help managers respond to the challenge of creative problem solving, principles of management have long been categorized into the four major functions of planning, organizing, leading, and controlling (the P-O-L-C framework).

This project management process generally includes four phases: initiating, planning, executing, and closing. Some may also include a fifth “monitoring and controlling” phase between the executing and closing stages.

"There are only four rules you need to remember. Make the plan, execute the plan, expect the plan to go off the rails… throw away the plan. Follow my lead and you'll be fine.”

Originally identified by Henri Fayol as five elements, there are now four commonly accepted functions of management that encompass these necessary skills: planning, organizing, leading, and controlling.

The following steps ensure that plans are used to guide the work of the organization: Communicating or "marketing" the plan, • managing the implementation of the plan, • supervising the actual work, and • monitoring and reporting progress on the plan.