advantages of planning

Planning fulfills the following objectives: Gives an organization a sense of direction. We cannot think of an effective system of controlling without existence of well thought out plans. Attention […] The advantages of planning are numerous. It’s even harder to talk about it. This is because of the fact that planning may involve changing in work methods, quality, quantity designs, extension of work, redefining of goals, etc. It helps in finding out problems of work performance and aims at rectifying the same. With the help of forecasting not only the enterprise secures its future but at the same time it is able to estimate the future motives of it’s competitor which helps in facing future challenges. from your Reading List will also remove any Productivity and Total Quality Management, World‐Class Quality: ISO 9000 Certification. There are risks of various types due to uncertainties. If planning is root, controlling is the fruit. CliffsNotes study guides are written by real teachers and professors, so no matter what you're studying, CliffsNotes can ease your homework headaches and help you score high on exams. But losing someone we love is really tough. Planning revolves around organizational goals. All rights reserved. Without planning an organization has no guide. Therefore, planning leads to best utilization of possible resources, improves quality of production and thus the competitive strength of the enterprise is improved. Effective planning secures economy since it leads to orderly allocation ofresources to various operations. © Management Study Guide Since planning foresees the future and also makes a provision for it, it gives an added strength to the business for its steady growth and continuous prosperity.3. All activities are directed towards common goals. ADVERTISEMENTS: Advantages of Planning: Planning is one of the crucial functions of management. and any corresponding bookmarks? Planning helps in focusing the attention of employees on the objectives or goals of enterprise. Planning facilitates existence of certain planned goals and standard of performance. Planning creates a healthy attitude towards work environment which helps in boosting employees moral and efficiency. Above all other things, planning is important for the following reasons: 1. We really don’t want to think about it. © 2020 Houghton Mifflin Harcourt. Planning fulfills the following objectives: Previous Planning provides competitive edge to the enterprise over the others which do not have effective planning. Therefore with the help of planning, uncertainties can be forecasted which helps in preparing standbys as a result, uncertainties are minimized to a great extent. For example, raw materials can be purchased in bulk and transportation cost can be minimized. Planning helps in reducing uncertainties of future as it involves anticipation of future events. In the process of planning, managers have the opportunities of suggesting ways and means of improving performance. We are a ISO 9001:2015 Certified Education Provider. In fact, it makes objectives more clear and specific. Although future cannot be predicted with cent percent accuracy but planning helps management to anticipate future and prepare for risks by necessary provisions to meet unexpected turn of events. In fact, planning and controlling are the two sides of a same coin. Removing #book# Employees know in advance what is expected of them and therefore conformity can be achieved easily. Planning helps in focusing the attention of employees on the objectives or goals of enterprise. Of all the managerial activities, it comes first because of the following benefits:1. It is basic to all other functions of management. This encourages employees to show their best and also earn reward for the same. There will not be proper organization and direction without proper planning. Without planning an organization has no guide. Planning leads to more effective and faster achievements in any organization.2. Planning is an important per-requisite for attaining the cherished goals of a business enterprise. There is an integrated effort throughout the enterprise in various departments and groups. Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. At the same time it ensures regular supply for the production department, that is, overall efficiency. Planning is basically a decision making function which involves creative thinking and imagination that ultimately leads to innovation of methods and operations for growth and prosperity of the enterprise. Therefore, planning brings order and rationality into the organization. In other words, it leads to better co-ordination. Planning provides pre-determined goals against which actual performance is compared. It also facilitates optimum utilization of resources which brings economy in operations. It also avoids wastage of resources by selecting most appropriate use that will contribute to the objective of enterprise. It highlights the purposes for which various activities are to be undertaken. The advantages of planning are numerous. Therefore, planning brings order and rationality into the organization. Are you sure you want to remove #bookConfirmation# Even when we think we are prepared for it, the moment it happens, the grief shakes us beyond imagination. Privacy Policy, Similar Articles Under - Planning Function. Planning compels manager to prepare a Blue-print of the courses of action to be followed for accomplishment of objectives. Advantages of Planning Peace of Mind That Final Event in our lives is going to come one day…we know that. It avoids duplication of efforts. It states the goals and means of achieving them. Planning creates an atmosphere of order and discipline in organization. bookmarked pages associated with this title. Planning begins with determination of objectives. Planning compels manager to prepare a Blue-print of the courses of action to be followed for accomplishment of objectives. Without plans and goals, organizations merely react to daily occurrences without considering what will happen in the long run. Defining Planning, Next Using Plans to Achieve Goals.

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