Definition
of Planning:
•Planning
is the first managerial function to be performed. It is concerned with deciding
in advance what is to be done in future, when, where and by whom it is to be
done. It is a process of thinking before doing.
“Without
the activities determined by planning, there would be nothing to organize, no
one to activate and no need to control”.
George R.
Terry
Question 1: How do managers plan?
ØPlanning
–The process of setting objectives and determining how to
best accomplish them.
ØObjectives
–Identify the specific results or desired outcomes that one
intends to achieve.
ØPlan
–A statement of action steps to be taken in order to
accomplish the objectives.
ØSteps in the planning process:
–Define your objectives.
–Determine where you stand vis-à-vis objectives.
–Develop premises regarding future conditions.
–Analyse and choose among action alternatives.
–Implement the plan and evaluate results.
ØBenefits of planning:
–Improves focus and flexibility.
–Improves action orientation.
–Improves coordination.
–Improves time management.
–Improves control.
