1. Importance of Planning
Planning has gained an essential place in the field of business management.
Because now-a-days every organization use to make plan for doing various
activities in the most appropriate manner. In fact in the absence of planning
any organization cannot able to attain its primary objectives in the best and
cheapest way. on the whole it is clear that planning is one of the most
important part & parcel of business organization.
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2. The importance of planning can be described as below:
Planning reduces uncertainty of future events
Planning makes objectives clear and specific
Planning brings economy in operations
Planning provides the basis of control
Planning establishes unity & co-ordination
Planning takes optimum utilization of available resources
Planning helps to control hasty decisions
For development of organization
3. Planning reduces uncertainty of future events:
Planning plays an important role in the reduction of
future uncertainty of an event. It is matter of fact that
future is uncertain and risk-oriented. What will occur
tomorrow we cannot say with certainty but we can
forecast about future events through planning. Hence, to
avoid these future uncertainty and risk every
organization has to make plan. Thus we can say that
planning reduces uncertainty of future events.
4. Planning makes objectives clear and specific:
Planning provides a huge guidance to an organization
by making its objectives more clear and specific. As
we know that in organization all the events or
activities are done by the personnel with view to
achieve primary objectives of organization, hence if
the objectives of organization is not clearly defined
then as a result the personnel cannot able to do their
assigned tasks in proper way. Hence, we can say
planning makes objectives clear and specific.
5. Planning brings economy in operations:
Planning provides a proper guidance to an
organization by bringing economy in all around
operations of organization. It is matter of fact
that every organization has done its works on
the basis of adopting plan so that organization
cannot face any difficulties in course of
executing the whole operations and as a result
the cost of operations will be reduced. Thus it is
clear that planning brings economy in
operations of organization.
6. Planning provides the basis of control:
Planning provides the basis of control to an
organization. In fact in the absence of planning any
organization cannot able to make its controlling process.
Because we know in controlling process every action are
performed or decisions are taken by keeping in view to
plan of organization. In the absence of planning
organization cannot able to keep on its controlling
process for a long while. On the whole it is clear that
planning is the basis of controlling process.
7. Planning establishes unity & co-ordination
Planning plays a significant role in the establishment of
unity and co-ordination amongst various resources.
Either it may be like man, material, money and all
other resources. It provides the proper information to
an organization how to integrate all the resources by
the proper utilization of man power towards the
achievements of primary goals of organization.
Therefore, planning establishes unity and co-
ordination amongst resources.
8. Optimum utilization of available resources
Planning plays an essential role to take optimum
utilization of available resources. In fact, it integrates
the whole available resources in such a manner, so that
the personnel cannot face any problems in course of
getting optimum benefits from available resources.
Hence, we can say that planning helps to take optimum
utilization of available resources.
9. Planning helps to control hasty decisions:
Planning provides a great scope for controlling hasty
decisions which is often taken by organization without
making up the mind. It is matter of fact that planning
provides a large number of alternatives to an
organization to perform various activities in the best &
cheapest way. Hence, if organization will select the best
alternative courses & perform activities accordingly then
organization can easily control hasty decisions.
10. For development of organization:
Planning plays a vital in the development of
organization. because it is matter of fact that in
organization all the events are done according to
planning, hence if the planning of organization will
sound then organization can smoothly obtain its
goals. As a result organization will be developed by
leaps & bounds; on the other hand if the planning of
organization will not sound then organization cannot
obtain its goals easily & as a result organization will
not be developed properly. Thus, it is clear that
planning helps in the development of organization.