What is the important role of planning in the management?
Planning:
Planning can be described as deciding in advance regarding the goals to be pursued through the enterprise, the selection of best optional course of action to reach such goals and a specification of activities-technical, personnel and financial and many needed for the implementation of the pre-selected courses of action. This is goal oriented. This has a reference to future. This is the primary function of Management. This involves choice and this is an intellectual exercise. This is all-pervasive.
This is both long-range and short range. This is continuous. This is actionable. This is flexible. This is an integrated system. All policies, Rules, Procedures and Methods are aids to planning.
Planning assists management to face future along with greater strength and confidence. This assists to focus attention on objectives. This leads to operational life of the enterprise beside the most efficient lines. This enables the exercise of control and gives different parameters for control. This guides decision-making process. It gives a sense of direction to action. This helps innovation and creativity. Planning assists coordination and cooperation.