Question

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.

Hint:

For planning features, emphasize the forward-looking, purposeful nature. For steps, highlight the iterative, research-intensive process.

Answer 1

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.