Definition and Meaning of Planning in Management

Planning = Process of deciding business targets and charting out a rational path of attaining those targets Decision-making = Involves choosing the future course of action from alternatives Organising = Function of management that involves arranging resources and tasks to achieve objectives Control = Management function that ensures activities conform to planned goals

Planning = Intellectual and rational process involving imagination, foresight, and sound judgement Objective setting = Establishing the goals an enterprise wants to achieve Decision-making = Process that has a pervasive influence on planning and is required in various management functions Organisation = Function related to arranging resources and tasks to achieve specified objectives

Planning decides the future course of action. = Decision-making is required to choose the best alternative for future actions. Decision-making has a wider connotation than planning. = Decision-making extends beyond planning to almost every position in a business. Every organisation needs to specify its objectives. = Without objectives, there is no basis for organising, directing, or controlling activities. Quality of planning depends on managers' abilities. = Managers collect, analyze, and interpret facts to ensure effective decision-making and planning.

<p>Planning = Requires thinking before acting based on facts rather than guesswork Direction = Function that involves guiding and supervising employees towards achieving objectives Coordination = Necessary for ensuring harmonious interaction between different parts of an organization Motivation = Function that aims to inspire and encourage employees to perform at their best</p> Signup and view all the answers

<p>Foresight and sound judgement = Essential for effective planning and decision-making Alternative courses of action = Considered during planning to choose the best path towards objectives Intellectual calibre of managers = Determines how far into the future a manager can see and with how much clarity Harmonious interaction between different parts of an organization = Achieved through proper coordination among various functions</p> Signup and view all the answers

<p>Planning = Preparatory step for action Objectives = Goals set by the managers Blueprint = Mapping out ways of attaining objectives Course of action = Actions needed to reach established objectives</p> Signup and view all the answers

<p>Determining appropriate goals and objectives = First component of planning process Specifying actions needed to reach established objectives = Second component of planning process Optimum period of time for achieving goals = Third component of planning process Setting overall assessment of the future = Not a component of planning process</p> Signup and view all the answers

<p>Systematized pre-thinking for determining a course of action = Definition of planning Deciding in advance what, when, where, and how to do something = Nature of planning Looking ahead and mapping out future operations = Purpose of planning Process by which managers set objectives and chart courses of action = Definition of planning process</p> Signup and view all the answers

<p>Managers fix the objectives of the organisation = Role in setting goals Preparing a 'blueprint' for ways to achieve objectives = Role in mapping out operations Determining appropriate actions for reaching established objectives = Role in specifying actions Assessing the future prospects of the organisation = Not a direct role in planning</p> Signup and view all the answers

<p>Planning as a major function of management = Essential for proper operation of an organisation Setting objectives as part of planning process = Key to determining organisational goals Charting courses of action for achieving goals = Crucial for reaching desired results Assessing future prospects before making decisions = Not directly related to planning functions</p> Signup and view all the answers