Thursday 27 July 2017

CBSE Class 12 - Business Studies - Features Of Planning (#CBSENotes)

Features Of Planning

Business Studies

CBSE Class 12 - Business Studies - Features Of Planning (#CBSENotes)

Planning focuses on achieving objectives:
Planning has no importance unless it contributes to the accomplishment of predetermined organizational goals.

Planning is a primary function of management:
Planning lays down the base for other functions of management. Planning precedes other functions. It goes before different capacities.

Planning is pervasive:
Planning is required at all levels of management as well as in all departments of the organization. It is not an exclusive function of top management.

Planning is futuristic:
Planning essentially involves looking ahead and preparing for the future. Iincludes looking forward and get ready for what's to come.

Planning involves decision making:
Planning essentially involves choice from among various alternatives and activities. If there is only one possible course of action, there is no need for planning because there is no choice. It includes decision from among different choices and exercises.

Planning is a mental exercise:
Planning requires application of the mind involving requires foresight, intelligent imagination and sound judgement. It requires utilization of the brain including requires foreknowledge and clever creative ability.

⑺ Planning is continuous:
Plans are prepared for a  particular timeframe, may be for a month, a quarter, or a year. At the end of that period there is requirement for a new plan to be drawn on the basis of new needs and future conditions. Hence, planning is a continuous process. It is a is a nonstop procedure.

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