Explain what is Planning.
It can be defined as deciding in advance regarding the objectives to be pursued through the enterprise, the selection of best option course of action to reach those objectives and a specification of activities as technical, personnel and financial required for the implementation of the pre-selected courses of action. It is goal oriented. Planning has a reference to future. Planning is the primary function of Management. Planning involves choice and this is an intellectual exercise. Planning is all-pervasive. Planning is both long-range and short range. Planning is continuous. This is actionable. This is flexible. This is an integrated system. Policies, Rules, Procedures and Methods are aids to it. It helps management to face future with greater confidence and strength. It helps to focus attention on goals. Planning leads to operational life of the enterprise with the most efficient lines. Planning enables the exercise of control and provides different parameters for control. This guides decision-making process. Planning gives a sense of direction to action. This helps creativity and innovation. It facilitates coordination and cooperation.