Meaning and Definition of Planning

We have already been introduced to four basic managerial function namely, planning, organizing, leading and controlling. This is also widely accepted conceptual framework of management. Planning is most basic of all managerial functions. It is the process by when managers’ establish goals and define the methods by which these goals to be attained. According to Wcihrich and Koontz, "Planning involves selecting missions and objectives and the actions to achieve them; requires decision making, that is, choosing from among alternative future courses of action." It is. therefore. a rational approach to achieving selected objectives.

Planning is thus taken as the foundation for future activities. New has thus defined it as, "Planning is deciding in advance what is to be do that is a plan is a projected course of action." So. planning can be thou o be treated of as deciding about a future course of action. It may also process of thinking before doing.

Management has to plan for long-range and short-range fat direction by looking ahead into the future, by estimating and evaluate the future behavior of the relevant environment and by determining enterprise's own desired role. Planning involves determining various types and volumes of physical and other resources to be acquired from outside to allocate these resources in an efficient manner among compel claims and to make arrangement for systematic conversion of the resources into useful outputs.

As it is clear from the above discussion, plans have two b components : goals and action statements. Goals represent an end state the targets and results that managers hope to achieve. Action stated represent the means by which an organization goes ahead to attain  earns of goals. Planning is a deliberate and conscious act by means of which managers determine a course of action for pursuing a specific g Planning to a manager means thinking about what is to be done, who going to do it, and how and when he will do it. It also involves thinking. about past events (retrospectively) and about future opportunities and impending threats (prospectively). Planning enquires about organizational strengths and weaknesses and involves decision making about desired ways and means to achieve them. Then: are. however. differences between decision making and planning. Decisions can be made without planning but planning cannot be done without making decisions.