Everything you need to know about the characteristics and features of planning. Planning is the first management function to be performed in the process of management. It governs survival, growth and prosperity of any enterprise in a competitive and ever-changing environment. Planning means looking ahead and chalking out future courses of action to be followed. It is rightly said "Well [...]
In this article we will discuss about the importance of planning in business, management and organizations. Planning is the first and the most important function of management. It is needed at every level of management. Without planning all the activities of a business organisation will be meaningless rendering the attainment of objectives merely a dream. Because of the increasing size [...]
Measures to be taken to make planning effective are as follows: 1. Well-Defined Objectives 2. Management Information System 3. Top-Level Initiative 4. Planning should be Flexible 5. Resistant to Changes 6. Careful Premising 7. Integration of Long-Term and Short-Term Plans 8. Cost-Benefit Analysis 9. Proper Forecasting 10. Dynamic Managers. Step # 1. Well-Defined Objectives: For efficient planning well-defined objectives are [...]