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Planning and Control Management Functions

The document discusses the planning function of management. It defines planning as thinking in advance about what needs to be done, when, how, and by whom. Planning sets objectives for a time period and develops courses of action to achieve objectives. Planning contributes to objectives, provides direction, reduces risks and waste, and promotes innovation. However, planning can also lead to rigidity and not work in dynamic environments. External factors like natural disasters or policy changes can also limit planning. The basic steps of planning include determining objectives and alternatives, evaluating alternatives, preparing derivative plans, determining timing and participation, and following up on the proposed plan.

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Juan Jaylou Ante
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134 views3 pages

Planning and Control Management Functions

The document discusses the planning function of management. It defines planning as thinking in advance about what needs to be done, when, how, and by whom. Planning sets objectives for a time period and develops courses of action to achieve objectives. Planning contributes to objectives, provides direction, reduces risks and waste, and promotes innovation. However, planning can also lead to rigidity and not work in dynamic environments. External factors like natural disasters or policy changes can also limit planning. The basic steps of planning include determining objectives and alternatives, evaluating alternatives, preparing derivative plans, determining timing and participation, and following up on the proposed plan.

Uploaded by

Juan Jaylou Ante
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Planning and Control Management Functions

A. The Nature, Significance and Dimensions of Planning Functions

I. Definition of Planning

Planning can be defined as “thinking in advance what is to


be done, when it is to be done, how it is to be done and by
whom it should be done”.

“Planning is the foundation of the most successful action of


enterprise.” (Terry)

Time is an important ingredient in planning. Plans are always


developed for a fixed time period as no business can go on
planning endlessly.

Setting objectives for a given time period, formulating


various courses of action to achieve them and then selecting
the best possible alternative from the different course of
actions.
II. Features/ Nature/ Characteristic of Planning

1. Planning contributes to Objectives


2. Planning is Primary function of management
3. Pervasive
4. Planning is futuristic/Forward looking
5. Planning is continuous
6. Planning involves decision making
7. Planning is a mental exercise

III. Importance/ Significance of Planning

1. Planning provides direction.


2. Planning reduces the risk of uncertainties.
3. Planning reduces over lapping and wasteful activities.
4. Planning promotes innovative ideas.
5. Planning facilitates decision making.
6. Planning establishes standard for controlling.
7. Focuses attention on objectives of the company.

IV. Limitations of Planning

1. Planning leads to rigidity.


2. Planning may not work in dynamic environment.
3. It reduces creativity.
4. Planning involves huge Cost.
5. It is a time consuming process.
6. Planning does not guarantee success.
7. Lack of accuracy.

V. External Limitations of Planning


1. Natural calamity
2. Change n competitor’s policies
3. Change in taste/ fashion and trend in the market
4. Change in technologies
5. Change in government/ economic policy

VI. Basic Steps in Planning

1. Determination of the objectives.


2. Statement of planning premises.
3. Determination of alternative course of action.
4.  Evaluation of alternative course of action.
5.  Preparation of derivative plans.
6.  Timing and sequence of operation.
7.  Seeking participation of personnel.
8.  Determining the strategy.
9.  Providing follow – up to the proposed plan.

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