What is Planning?
Planning is the process of deciding in advance what to do, how to do, when to do and who will do it.
Why is planning called a futuristic function?
Because planning is concerned with future actions and outcomes.
Why is planning called the primary function of management?
Because all other functions like organizing, staffing and controlling depend on planning.
State any four features of planning.
Goal-oriented, primary function, pervasive, futuristic, continuous, involves decision making, mental exercise.
Why is planning a continuous process?
Because plans are revised and updated according to changes in environment.
Give two importance of planning.
Provides direction and reduces risk of uncertainties.
How does planning help in controlling?
It provides standards for comparison between planned and actual performance.
State any four limitations of planning.
Rigidity, dynamic environment, costly, time consuming, no guarantee of success.
What is the first step in planning process?
Setting objectives.
What is meant by developing premises?
Making assumptions about future conditions.
What is meant by evaluation of alternatives?
Comparing all possible options to select the best one.
What is follow-up in planning?
Monitoring and reviewing plans during implementation.
What is a plan?
.
A document that outlines how goals are going to be achieved.
What are single use plans?
Plans used only once for specific purpose.
What are standing plans?
Plans used repeatedly for recurring situations.
What are objectives?
End results towards which activities are directed.
What is strategy?
A long-term comprehensive plan to achieve objectives.
What is policy?
General guideline for decision making.
What is procedure?
Sequence of steps to perform an activity.
What are rules?
Strict instructions that must be followed.
State any three principles of planning.
Contribution to objectives, limiting factors, flexibility.
What is a budget?
A numerical statement of expected results.
What are the three levels of planning?
Top level, middle level and lower level.
What is Management by Objectives (MBO)?
Process of setting goals jointly by managers and employees.
