STRUCTURE : 9.1 Introduction 9.2 Meaning of Planning 9.3 Concept of Planning 9.4 Principles of Planning 9.5 Planning Process 9.6 Techniques of Planning 9.7 Significance of Planning 9.8 Limitations of Planning 9.9 Summary 9.10 Self - Assessment Questions 9.11 Reference Books 9.1 INTRODUCTION : Planning concentrates on setting and achieving objectives of an organisation. Planning
is the first management function. Before any action is taken place, it is essential to think about
planning and design the future course of action, otherwise functioning would be ambiguous and
performance of the organisation could not be upto the level of desired standards.
9.2 MEANING OF PLANNING : Every human activity undertaken with a view to achieve something must be proceded by
planning. For instance, a student desirous of securing a good grade in the examination has to
plan his study. A person intending to set up a business cannot do so unless he has done a lot of
previous thinking. He has to plan within the available resources, the location, the products to be
sold, customers to be approached or the markets to be entered.
Managerial operations must be based on suitable and sufficient planning. It has to plan
not only in the beginning but throughout the operations.
Definitions : “ Planning is deciding in advance what is to be done”
“Planning bridges the gap between where we are to where we want to go”.
“Planning will involve deciding a course of action from amongst a number of alternative courses
which would help the enterprise to achieve its objectives most expeditiously and economically.
“Planning ensures proper application of resources for the attainment of desired ends”
9.2
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