MANAGEMENT PROCESS:
PLANNING
Planning is the first managerial function to be performed.
It is concerned with deciding in advance what is to be done in future, when, where and by whom it is to be done. It is a process of thinking before doing.
Features of planning:
1.Focus on realizing the objectives set.
2.Intellectual process involving mental exercise.
3.Selective as it selects the best course of action.
4.Pervasive as all the levels of management plan.
5.Lays foundation of the successful actions of management.
6.It is flexible.
7.It is continuous.
8.Efficiency is measured by what it contributes to the objectives.
Objectives of planning:
1.Helps in effective forecasting.
2.Provides certainity in the activities.
3.Establish coordination in the activities.
4.Provides economy in the management.
6P's in planning:
Purpose
Philosophy
Premise
Policies
Plans
Priorities
Benefits of planning:
Focus and flexibility
Action orientation
Coordination
Time management
control
I AM FORBES
Planning is the first managerial function to be performed.
It is concerned with deciding in advance what is to be done in future, when, where and by whom it is to be done. It is a process of thinking before doing.
Features of planning:
1.Focus on realizing the objectives set.
2.Intellectual process involving mental exercise.
3.Selective as it selects the best course of action.
4.Pervasive as all the levels of management plan.
5.Lays foundation of the successful actions of management.
6.It is flexible.
7.It is continuous.
8.Efficiency is measured by what it contributes to the objectives.
Objectives of planning:
1.Helps in effective forecasting.
2.Provides certainity in the activities.
3.Establish coordination in the activities.
4.Provides economy in the management.
6P's in planning:
Purpose
Philosophy
Premise
Policies
Plans
Priorities
Benefits of planning:
Focus and flexibility
Action orientation
Coordination
Time management
control
I AM FORBES
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