Topic 1- Planning: Concep, Objectives and Nature

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 Planning- Fundamental management function

  • What is to be done

  • When is it to be done

  • How it is to be done

  • Who is going to do it

Intellectual process which lays down an organization’s objectives and developes various courses of action, by which the organization can achieve thos objectives.

  • How to attain a specific goal


Planning is just thinking before taking action. 

  • Advance finding a way to deal with the situations.

  • Involves logical thinking and rational decision making


Objectives of planning-


  • Economic planning-

  • Improvement in the standard of living through the sizable increase in national income within a short period of time.

  • Employment opportunities

  • Reduction in all types of social, economic and regional inequalities

  • Efficient utilization of country resources 


Nature of Planning

  1. Primary function of management

Planning-Organizinig-Directing-Controlling


  1. Focuses on objectives

  2. Function of all managers

  3. Intellectual process

  4. Continuous process

  5. Dynamic (Flexible)- Changing and modifications are continuously done

  6. Secures efficiency, economy and accuracy

  7. Involves forecasting- its a kind of future picture wherein proximate events are outlined with some distinctness while remote events appear progressively les distinct

  8. Involve limiting factors- 5 M’s- men, money, machines, materials and management

  9. Realistic- Outlines the results to be attained

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