Explain the following as features of planning function of management:
(i) Planning focuses on achieving objectives.
(ii) Planning is futuristic.
(iii) Planning involves decision making.
(i) Planning focuses on achieving objectives. (ii) Planning is futuristic.
(iii) Planning involves decision making.
Show Hint
Solution and Explanation
Features of Planning Function of Management
(i) Planning Focuses on Achieving Objectives:
Planning is always goal-oriented. It provides a roadmap for achieving organisational objectives efficiently. All planning activities are directed towards clearly defined goals.
Example: If a company aims to increase its market share by 15%, all plans will be focused on achieving that target.
(ii) Planning is Futuristic:
Planning is forward-looking. It involves forecasting future conditions and making decisions today for activities to be carried out in the future. It helps managers anticipate challenges and prepare accordingly.
Example: A firm planning to launch a new product next year will study future market trends and customer preferences.
(iii) Planning Involves Decision Making:
Planning is essentially a process of making choices among various alternatives. Managers evaluate different courses of action and select the best possible option to achieve objectives.
Example: A business may decide between expanding in a new market or improving its current product line based on careful planning.
Conclusion: These features show that planning is a purposeful, future-oriented, and decision-based activity essential for successful management.
Top Questions on Planning
Match List I with List II.
- Arrange the steps of Planning Process in a proper order:
(A) Implementation of plan and follow-up action
(B) Developing Premises
(C) Identification and evaluation of alternative courses of action
(D) Setting up of objectives
(E) Selecting an alternative
Choose the correct answer from the options given below: - Which of the following is a principle by Fayol?
Match the features of planning in List I with their descriptions in List II
List I List II A. Planning is Pervasive I. It is required at all levels of management and in all departments of the organisation. B. Planning is Continuous II. It involves looking ahead and preparing for future events to the best advantage of an organisation. C. Planning is a Primary Function III. It lays down the base for other managerial functions. D. Planning is Futuristic IV. Plans are prepared for a specific period, and at the end of that period, new plans are drawn based on new requirements and future conditions. “Planning bridges the gap between where we are and where we want to go”. Identify the features of planning.