Planning is a fundamental management function that involves deciding beforehand what is to be done, when it is to be done, how it is to be done, and who is going to do it. It is an intellectual process that lays down an organization’s objectives and develops various courses of action by which the organization can achieve those objectives. Planning is nothing but thinking before the action takes place. It helps us to take a peep into the future and decide in advance the way to deal with the situations, which we are going to encounter in the future.
Planning is a pervasive function that is present in all segments and is required at all levels of the organization. Although the scope of planning varies at different levels and departments, it is a continuous process that involves making plans for a specific term, say for a month, quarter, year, and so on. Once that period is over, new plans are drawn, considering the organization’s present and future requirements and conditions. Therefore, it is an ongoing process, as the plans are framed, executed, and followed by another plan.
Planning is a mental exercise that involves the application of mind to think, forecast, imagine intelligently, and innovate, among other things. It encompasses looking into the future to analyze and predict it so that the organization can face future challenges effectively. Decisions are made regarding the choice of alternative courses of action that can be undertaken to reach the goal. The alternative chosen should be the best among all, with the least number of negative and the highest number of positive outcomes.
Planning is concerned with setting objectives, targets, and formulating plans to accomplish them. The activity helps managers analyze the present condition to identify the ways of attaining the desired position in the future. It is both the need of the organization and the responsibility of managers.
The characteristics of planning include being a managerial function that provides the base for other functions of management, i.e., organizing, staffing, directing, and controlling, as they are performed within the periphery of the plans made. Planning is goal-oriented and focuses on defining the goals of the organization, identifying alternative courses of action, and deciding the appropriate action plan, which is to