woman doing her office work


 WHAT IS PLANNING

In easy words, we can say that planning is the determination and measuring the objectives and goals of business. Every business managers should create a proper plan before implement basic principles of business and necessary actions.


KEY POINTS OF PLANNING



  1. What needs to be done?
  2. How it will be done?
  3. Who will do it?
  4. When will this be done?
  5. Where it needs to be done?
  6. Basic resources requires for action.


IMPORTANCE OF PLANNING



  • Define Objectives
Making sure what you organisational objectives is, might be one of the most important factors of planning. Without any goals you are less likely to work on your business.
  • Learn How To Achieve 
There will come a time, when you will have to change course of plan and certain action depends upon the various activities of business, if you pre-consider or keep in mind that this changes might take place in future then it will be lot more easier.
  • Maximum Utilisation
Plannings helps your utilize your business resources to its ultimatum. The advantages of such utilisation is that it wil defintely increase your productivity and less cost of production.
  • Full Control Over Business
When you are the phase of planning for business, you are also controlling the whole business until the products or service reach to its customer. When you think about, the person who makes plan is the one who implements of controls it.
  • Employee Motivation
Without proper planning, the employee are less likely to act on time, this will also lead to less productivity and loss of interest in work.
  • Innovations & Creativity
The one of best advantages of planning is that it generates ideas and creativity in your mind. There are many things that can be done in beautiful manner. The uniqueness of business activities and its products is what matters.


Obstacles in Basic Planning

  • Lack of Objectives
  • Not having proper information and facts
  • Inflexibility
  • Incompatible to change
  • Lack of creativity
  • Poor Accuracy Measurement

PRINCIPLES OF PLANNING


After all, planning is really good for preventing hasty decisions and certain. You will get to know about objectives, policies, procedures, rules, programmes and methods.

  • Objective
  • Logical Plan
  • Efficiency of Objectives
  • Premises of Planning
  • Strategy and Policy Framework
  • Limiting Factor
  • Commitment
  • Flexibility
  • Navigational Matter
  • Pervasiveness
  • Coordination
  • Timing
  • Participation
  • Competitive Strategies