What is Planning?

 Planning is the function of management that involves setting objectives and determining a course of action
for achieving those objectives.
 Planning requires that managers be aware of environmental conditions facing their organization and forecast
future conditions.
 Planning is the basic function by which we use to select our goals and objectives and make plans to achieve
them.
 Planning is one of the primary managerial duties.
 Planning is a trap laid down to capture the future.
Why do Managers Plan?
Importance/Purposes of Planning
 Planning provides direction
 Planning minimizes risk and uncertainty
 Planning ensure co-ordination
 Planning facilitates decision-making
 Planning encourage innovation and creativity
 Planning provides sense of direction