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.
