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"Planning Is Deciding in Advance What Is To Be Done That Is A Plan Is A Projected Course of Action."

Planning involves deciding future courses of action in advance through a process of thinking before doing. It has several key aspects including being rational, focused on objectives, forward-looking, and continuous. Planning provides direction, reduces risk and waste, and facilitates decision-making and coordination. The planning process involves setting objectives, identifying alternatives, evaluating them, selecting an alternative, implementing it, and following up. There are different types of planning like corporate/functional planning and strategic/operational planning that can be long-term or short-term.

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Sabin Khadka
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1K views8 pages

"Planning Is Deciding in Advance What Is To Be Done That Is A Plan Is A Projected Course of Action."

Planning involves deciding future courses of action in advance through a process of thinking before doing. It has several key aspects including being rational, focused on objectives, forward-looking, and continuous. Planning provides direction, reduces risk and waste, and facilitates decision-making and coordination. The planning process involves setting objectives, identifying alternatives, evaluating them, selecting an alternative, implementing it, and following up. There are different types of planning like corporate/functional planning and strategic/operational planning that can be long-term or short-term.

Uploaded by

Sabin Khadka
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Planning

• “Planning is deciding in advance what is to be


done; that is a plan is a projected course of
action.”

• So, planning can be thought of as deciding on


a future course of action. It may also be
treated as a process of thinking before doing.
Nature of Planning
1. Primacy of planning
2. Rational Approach
3. Open System Approach
4. Focus on Objectives
5. Decision Making
6. Forward Looking
7. Pervasiveness
8. Continuous Process
9. Flexibility
10.Mental Exercise
Importance of Planning
1. Direction for Action
2. Reducing risk of uncertainty
3. Reducing Overlapping and wasteful Activities
4. Promoting Creativity and Innovation
5. Facilitating Decision Making
6. Help in Coordination
7. Providing Basis for controlling
Planning Process
• Perception of Opportunities
1. Setting Objectives
2. Establishing Planning Premises
3. Identifying Alternatives
4. Evaluating Alternatives
5. Choosing Alternative
6. Plan Implementation
7. Follow-up Action
Types of Planning
• Corporate and functional Planning
• Strategic and operational planning
• Long term and short term
Types Of Planning
• Corporate Planning- Undertaken at the top level, also known
as corporate level and covers entire planning process of
organization. Main focus of this planning is to determine the
long term objectives of organization as a whole and to
generate plans to achieve these objectives bearing in mind
changes in the environment.
• Functional Planning- Segmental in nature and is undertaken
for each function of the organization like Production,
marketing, finance, human resource etc.
Types of planning
• Strategic Planning- It deals with strategic issues like type of
business to be undertaken, diversification of business into
new lines, type of products to be offered and so on.
• Operational Planning- Also known as tactical planning, is the
process of deciding the most effective use of resources
already allocated through strategic planning and to ensure
effective implementation
Types of planning
• Long term- It is strategic in nature and involves more then one
year period, Usually 3-5. Emphasis is on long term future
environmental scenario.

• Short term- Usually covers one year. This aims at making


effective use of organizational resources- financial, physical,
and human resources.

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