IMPORTANCE OF PLANNING
The process
of setting goals, developing strategies and outlining tasks and schedules to
accomplish the goals
IMPORTANCE
OF PLANNING
1.
Focuses attention of objectives and results.
2.Reduces uncertainity and risk.
3.Provides sence of direction.
4.Encorages innovation and creativity.
5.Helps in cordination.
6.Guides decision-making.
7.Facilitates control
1.
Focuses attention on objectives and results
Every organisation exists to achieve certain
objectives. Planning concentrates attention on the dominant goals of the
organisation.it forces the member of the organisation not to get lost in the
maze of routine activities and loose sight of the broad objectives for which
the organization was established
2.
Reduces uncertainty and risk
Uncertainty
and change are inevitable and planning
cannot eliminate them. But planning enables an organization to cope with
uncertainty and change. With the help of planning, an enterprise can predict
future events and make due provision for them.
3.Provides
sense of Direction
Planning
directs human efforts into endeavors that contribute to the accomplishment of
goals.”Planning makes work more meaningful and activities more orderly. It
bridges the gap between where we are and where we want to go.
4.
Encourages innovation and creativity
Innovations
and creativity are prerequisites to continuous growth and steady prosperity of
business. Planning is forward looking and it enables an enterprise to cope with
technological and other developments. Planning improves the adaptability of an
organization to the changing environment.
5.
Helps in Coordination
Planning
is the best stage for the integration of diverse forces at work. Sound planning
interrelates all the activities and resources of an organization. It helps to
relate internal conditions and processes to external events and forces. The
activities and efforts of various departments and divisions can be harmonized
with the help of an overall plan.
6.
Guides decision-making
Planned
targets serve as the criteria for the evaluation of different alternatives so
that the best course of action may be chosen. Sound plans prevent hasty
judgment and haphazard action. In the absence of plans there is no sound basis
for making future-oriented decisions.
7.
Facilitates control
Planning
provides the basis for control. Plans serve as standards for the evaluation of
performance. Sound planning enables management to control the events rather
than be controlled by them. It permits control by exception
