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INTRODUCTION
Definition of planning Considered as the most basic
Nature of planning
Planning is goal oriented Continuous and ongoing process
(ex: movement of a ship)
It is a pervasive function- It is done by managers at all levels Flexible in nature. (ex: colour television)
Contd.
Intellectual process- involves choice and decision making It is an integrating processimproper planning results in random activity
Schematic Representation
Continuous And Ongoing Goal Oriented NATURE OF PLANNING Integrating Process Flexible Intellectual Process Pervasive Function
Contd.
Helps to search from various alternatives (ex: selection from various models) Helps to identify potential opportunities and threats (ex: increase
production when there is demand)
Contd
Planning is useful for teamwork Sense of direction and purpose Conveying information Building trust Dividing responsibility Simplifying goals is possible through planning
Schematic Representation
IMPORTANCE AND PURPOSE OF PLANNING Minimizes risk
Effective control
Forecasting Economic operation Choosing from alternatives Identification of opportunities Team work Development of business strategies Simplifying goals
LIMITATIONS OF PLANNING
Lack of reliable data-reliable information is not available Lack of initiative-manager fails to take initiative Costly process-time consuming and expensive process Rigidity in organizational working
Contd.
Non-acceptability of change-a commonly experienced phenomenon External limitations-very difficult to predict Psychological barriers
SUMMARY
A good plan must beSpecific and simple Logical Complete and integrated Feasible Flexible-capable of being controlled
Plans are only good intentions unless they immediately degenerate into hard work. ~Peter Drucker
Thinking is the hardest work there is, which is probably the reason why so few engage in it... ~Henry Ford.
Even if you're on the right track, you'll get run over if you just sit there. ~Will Rogers.
Planning
It's not the plan that is important, it's the planning. ~Dr Graeme Edwards.