Briefly explain any one of the principles of planning.
Briefly explain any one of the principles of planning.
Planning in simple terms means giving direction to your goal. It is consider to be the basic function of management. Also it is an important function. In management planning means deciding what to do?when to do? how to do? who is going to do? so that the objective of a firm is achieved. It a process in which organisational objective is laid down and proper course of action is developed to reach to that objective. Following is the process of planning:
- The first step is to specific the objective that an organisation has to achieve. Objectives are the specific and measurable end results. All department set their own objective in the framework of organisational objectives.
- Second step is developing an assumption. Planning is based on assuming or predicting future. These assumptions are not random but they are based on forecasts, past experience, past policies, current trends in industry.
- Third step is identifying various ways. There is no one way to reach to the end goal. There can be different paths that will reach to a single end result. Hence it is important for a manager to identify all the ways that are available.
- Fourth step is examining all the course of actions that are available. It is very important for a manager to evaluate all the plans that are there. All the benefits and side effects of these plans should examine closely.
- Fifth step is selecting the final plan. After detailed scrutiny of all the plans final plan is selected. It is selected by weighing the pros and cons of all the plans and seeing which has more pros and is feasible as per current scenario.
- Sixth step is optional. It is deciding an alternate plan. This means having a backup plan or plan B. Many times organisation keep a backup plan in case the selected plan doesn't work out because of sudden change.
- Final step is implementing the plan. This is the last part of planning that is exciting the plan that is selected to achieve the final result.
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