Planning — Business Studies STD 12 Commerce — Question
CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesPlanning6 Marks
Question
Explain any five features of planning.
✓
Answer
Planning anticipates what is to be done and how it is to be done. It is an essential activity that provides the rationale for undertaking policies with the aim of achieving goals.The following are the features of planning:
Objective-oriented: Planning serves the guidelines for the goals to be achieved. It also defines how these goals are to be achieved. These guidelines ensure that the objectives of an organisation are achieved on time. For this, the management formulates plans keeping in mind specific goals and the managers make sure that the plans are purposeful. For example, if a sales target is to be achieved, then the organisational plans must reflect this objective.
Stepping stone: Planning serves as the stepping stone for other functions of an organisation. It precedes other functions such as organising, directing, staffing and controlling. This is because plans state the objectives of an organisation along with the means to achieve them. Other functions are planned in accordance with the objectives. Once the plans are determined, the roles of other interrelated functions fall into place. Thus, planning sets the basis for the other functions of management.
Pervasive: Planning is a function that needs to be performed at all levels in an organisation. It is performed not just by the top-level managers but also by the people at the low level of management. However, its scope differs according to the various dimensions of business. For example, the top-level managers have to chalk out policies regarding the overall management, the middle-level managers plan the authority to be assigned to their subordinates and the low-level managers set smaller targets for the day-to-day functioning of the organisation.
Continuous: Planning is a continuous process. This is because, after the implementation of one plan, the need arises for formulating the next plan, keeping in view the new objectives and circumstances. Moreover, within a plan period, the need arises to modify the plan as per changing needs and requirements.
Choice-making: Planning is a process of making choices from the various alternatives to achieve the desired goals. These alternatives are related to the strategies or policies for achieving organisational objectives. Managers need to evaluate these choices thoroughly and select the most rational scheme to achieve objectives.
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