Role of Planning in Management...

Role of Planning in Management Planning is the primary and most important function of management and occupies a very high position in the management process. It is the starting point of the whole management process and involves the determination of future course of action. Why an action is required, how to take an action, and when to take action are main subjects of planning for the management. Planning is a determined course of action for achieving a specific objective.  It is deciding in advance what to do and how to do. It is needed at every level of management. In the absence of planning all the business activities of the organization become meaningless. The importance of planning has increased all the more in view of the increasing size of organizations and their complexities and because of uncertain and constantly changing business environment. In the absence of planning, it may not be impossible but certainly difficult to guess the uncertain events of future. Planning is one of the basic management functions. In fact it occupies the top position in the management process. It is the starting point of the management process as other management function can take place only through this function. Before doing a thing, it is necessary that the management formulates an idea of how to work on a particular task. Thus, planning is closely connected with creativity and innovation. It involves setting objectives and developing appropriate courses of action to achieve these objectives. Objectives are achieved by fixing time based goals For achieving its goals management of an organization usually works with several management plans such as business plan, production plan, maintenance plan, or marketing plan etc. Further management plans can be either short term or long term or both. Definition of...