Characteristics of Planning – Constitutional, Operational and Desirable Features . The following facts come to light about its nature and features: (1) It is Focuses on Achieving Objectives: Management begins with planning and planning begins with the determining of objectives. Thus, the main focus of planning is to achieve the predetermined targets most effectively. Planning contributes to Objectives: Planning starts with the determination of objectives. The planning process starts with the assumption that the future will be different from the present, and it attempts to determine how the enterprise can take the advantage of the difference. Planning requires application of the mind involving foresight, intelligent imagination and sound judgement. Difference between ‘Forecasting’ and ‘Planning’: 4. Features of Planning. Planning is an integrated process – Planning involves not only the determination of objectives but also the formulation of sound policies, programmes, procedures and strategies for the accomplishment of these objectives. It is an intellectual process – According to Koontz and O’Donnell, planning is an intellectual process involving mental exercise, foreseeing future developments, making forecasts and the determination of the best course of action. This is only because planning is not more guess work but involves logical and systematic thinking. Planning is Basically, Decision Making. Planning seeks to achieve certain goals of the organisation. Following are some other nature and characteristics of planning: Thus, now you know the nature and characteristics of planning in business. Planning gives a common direction, guidelines, and instructions. Types 7. So, These features of planning in management are very essential. Planning is an integral part of the organization because building up an effective organization is possible only through planning, otherwise, the organization may be imagined even. Selection of Alternatives 20. Planning is the primary function of business management. Therefore, while adopting open system approach in planning, managers have to take into account various features of environment. This automatically entails the need for the forecasting of future events. Planning is intimately related to future. Notify me of follow-up comments by email. Decision making involves choosing the most appropriate alternative out of the several alternatives available. Various other activities of Management, like, Planning is an intellectual and mental activity since the best alternatives are selected in the. – In the planning process, a mental picture is made of all types of inputs, outputs and even structures which require knowledge, foresight, intelligent imagination and sound judgement, all parts of an intellectual process. ‘Unity’ has meant the execution of only one plan at a time. A good plan should provide maximum satisfaction at the last cost. 33 Qualities (Complete List), 17 Role and Importance of Small Scale Industries, 19 Role And Importance Of Managerial Economics, 13 Types of Online Advertising Techniques. vii. It also enables decision-making on challenges to be tackled and opportunities to be exploited. The flexibility feature of planning assumes that actual results may not match expected results if environmental conditions change during plan execution period. 4. Through the task of planning one can decide on what, how, and how much of money, people, equipments etc., are required at a particular period of time. It is not guesswork or wishful thinking. However, since business environment keeps on changing, planning should also provide for varying mix of resources to meet a given situation. eval(ez_write_tag([[250,250],'googlesir_com-medrectangle-4','ezslot_1',101,'0','0']));eval(ez_write_tag([[250,250],'googlesir_com-medrectangle-4','ezslot_2',101,'0','1']));Related: 10 Components or Elements of Planning (with Examples). It is a continuous process – Planning is a continuous process. 2. It involves forecasting of future environment in which the organisation is expected to function. Pervasiveness: planning is required in all sectors, i.e. The features of planning are enumerated as follows: (a) Planning is Goal-Oriented/Provides Direction: Organisations are set up with a general purpose in view. However, thinking for planning requires logical and systematic thinking rather than guessing or wishful thinking. Planning is closely associated with the objectives of the organisation. If a manager had foresight, vision and sound Judgment then he can prepare sound plans. Planning helps an organization to maintain a dynamic balance between the external environment and its objectives based on available human, physical, technological and financial resources.