Nature Importance and Purpose of Planning Process
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Transcript of Nature Importance and Purpose of Planning Process
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NATURE, IMPORTANCE AND PURPOSE OF PLANNING process
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INTRODUCTIONDefinition of planning Considered as the most basic and parent exerciseIt answers all basic questions
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Nature of planning
Planning is goal orientedContinuous and ongoing process (ex: movement of a ship)It is a pervasive function- It is done by managers at all levelsFlexible in nature. (ex: colour television)
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Contd.Intellectual process- involves choice and decision makingIt is an integrating process-improper planning results in random activity
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Schematic Representation
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Importance and purposeMinimizes uncertainty and risk-helps in decision making (ex: refrigerator)Gives a clear view of the future-forecastingLeads to effective use of resources and economic operationEffective control-planning and control are inseparable and interdependent
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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)Leads to development of business strategies and budget planning
Contd.
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Planning is useful for teamworkSense of direction and purposeConveying informationBuilding trustDividing responsibility Simplifying goals is possible through planning
Contd
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Schematic Representation
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LIMITATIONS OF PLANNINGLack of reliable data-reliable information is not availableLack of initiative-manager fails to take initiativeCostly process-time consuming and expensive processRigidity in organizational working
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Non-acceptability of change-a commonly experienced phenomenon External limitations-very difficult to predictPsychological barriersContd.
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SUMMARYA good plan must be-Specific and simpleLogicalComplete and integratedFeasibleFlexible-capable of being controlled
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Planning is deciding in advance what is to be done in future. ~Koontz. Plans are only good intentions unless they immediately degenerate into hard work. ~Peter Drucker
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Thinking is the hardest work there is, which is probably the reason why so few engage in it... ~Henry Ford.
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"Planning is a trap laid down to capture the future." ~Allen
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Even if you're on the right track, you'll get run over if you just sit there. ~Will Rogers.
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Planning without action is futile, action without planning is fatal. ~Unknown.
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It's not the plan that is important, it's the planning. ~Dr Graeme Edwards.