Write short answer of the following : State the nature of Planning.

Write short answer of the following :

State the nature of Planning.

ANSWER:

The following points highlight the nature of planning:

i. Objective oriented - Plans must be formulated keeping in view specific goals and objectives of the organisation. The management should ensure that the plans are purposeful.

ii. Pervasive - Planning must be done at all levels of the organisation. However, its scope differs along the various dimensions of the business concerned.

iii. Continuous - Planning is a continuous process, as after the implementation of a plan, the need for the formulation of the next plan arises, keeping in view new objectives and goals.

iv. Choice making - Planning is identifying and choosing the best course of action for the fulfilment of the desired objectives.

v. Futuristic - Planning is futuristic, as it foresees the future and prepares the management to deal with uncertain future events.

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