Step 1: Definition of Planning.
Planning is the process of deciding in advance what is to be done, how it is to be done, and who will do it.
It serves as the foundation of management and provides direction to all organizational activities.
Step 2: Characteristics of Planning.
- Goal-oriented: Planning always aims at achieving organizational objectives.
- Object-oriented: It aligns all activities towards the purpose or mission of the business.
- Mental process: It involves decision-making and problem-solving using logical reasoning.
Step 3: Analysis of options.
- (1) Goal-oriented: Correct — planning sets objectives.
- (2) Object-oriented: Correct — focuses on business aims.
- (3) Mental process: Correct — involves thinking before acting.
- (4) All of these: Correct — includes all above attributes.
Step 4: Conclusion.
Hence, planning is a goal-oriented, object-oriented, and mental process.