Question

Briefly discuss the process of planning.

Hint:

Remember the planning process with a simple flow: {Where do we want to go?} (Objectives) \(\rightarrow\) {What is the path like?} (Premises) \(\rightarrow\) {What are the different roads?} (Alternatives) \(\rightarrow\) {Which is the best road?} (Selection) \(\rightarrow\) {Start the journey} (Implementation) \(\rightarrow\) {Check the map} (Follow-up).

Answer 1

Planning is a fundamental management function that involves deciding in advance what to do, how to do it, when to do it, and who is to do it. It is an intellectual process that bridges the gap between where we are and where we want to go. The planning process typically involves a series of logical steps:

Setting Objectives: The first and most crucial step is to define the objectives for the entire organization and for each department. Objectives are the desired future positions that the management wants to reach. They should be specific, measurable, achievable, relevant, and time-bound (SMART).

Developing Premises: Planning is concerned with the future, which is uncertain. Therefore, managers need to make certain assumptions about the future. These assumptions, known as planning premises, provide the framework within which plans will operate. They can be about future market conditions, government policies, technological changes, etc.

Identifying Alternative Courses of Action: Once objectives are set and premises are developed, the next step is to identify all possible alternative ways of achieving the objectives. For any plan, there can be multiple courses of action.

Evaluating Alternative Courses: After identifying the alternatives, each one is thoroughly evaluated. The pros and cons of each alternative are examined in light of their feasibility and consequences. This evaluation helps in understanding the potential outcomes of each course of action.

Selecting an Alternative: This is the real point of decision-making. After a careful evaluation, the best and most viable plan is selected. The ideal plan is the one that is most profitable and has the least negative consequences.

Implementing the Plan: Once the best plan is selected, it must be put into action. This step involves communicating the plan to all employees, allocating the necessary resources (money, materials, manpower), and organizing all activities according to the plan.

Follow-up Action (Monitoring): Planning is a continuous process. After the plan is implemented, it is essential to monitor its progress to ensure that it is proceeding according to schedule. Regular feedback is collected to check whether the objectives are being met. If there are deviations, corrective actions are taken.