Planning is the systematic development … Let us study it further. The following are the important characteristics of planning: 1. It avoids wastage of resources and ensures adequate and optimum utilization of resources. Planning provides competitive edge. tweet; Pages: 1 2 3. Privacy Policy, Similar Articles Under - Planning Function. It Provides for a Proper Analysis and Classification of Action 4. The following characteristics were distinguished and coded for each plan: number of planned opportunities, presence of a planned routine, planned cue- or activity-related specificity, activity-related intensity, and chronological plan rank. If planning is root, controlling is the fruit. These qualities make the plans the right choice for the management and organization. We’ve done some deep thinking around strategic leadership here at ClearPoint, and these are the top ten characteristics we believe are critical to develop. Planning never comes into end till the enterprise exists issues, problems may keep cropping up and they have to be tackled by planning effectively. adj. It is thus, the first function of management at all levels. Characteristics of good farm planning: It is difficult to standardize the farm plan because of many combinations of the factors of production. 1. Planning is initiated by different managers of different divisions at different times. A manager can prepare sound plans only if he has sound judgement, foresight and imagination. You are using characteristics for characteristic-dependent planning (CDP); certain products are planned using characteristics. Planning is a mental exercise involving creative thinking, sound judgement and imagination. When planning, you need to ensure that you predict on the possibilities for the future by which the organisation has to operate on. It is Flexible 5. Action is required, the enterprise must operate managerial planning seeks to achieve a consistent, coordinated structure of operations focused on desired trends. From the above characteristics of planning in mixed developing economy, it is clear that the market and economic planning are complementary to one another. Planning should be flexible enough to incorporate any changes in the resources, if necessary. Receipts are consumed with requirements, based on identical characteristic values. Planning develops the goals which guides the entire organisation and this make it the most important of all management functions. Planning should not be an exclusive responsibility of top management. 2. Action is required, the enterprise must operate managerial planning seeks to achieve a consistent, coordinated structure of operations focused on desired trends. Privacy Policy 9. Plan should aim at efficient utilization of all the available resources on the farm. a) Institutional planning is the basic unit of educational planning. There are even a couple of tests to measure someone’s capability of planning well. The character, nature and scope of planning may change fro personnel to personnel but the planning as an action remains intact. A manager is surrounded by no. Primary Function; Pervasiveness of Planning; Focus on Objectives; Future-Oriented; Selective Process; Intellectual Process; Continuous Process; Increases Efficiency (1) Primary Function. Marketing plan shows marketing strategy that a company will use to market its products. According to Billy E. Goetz, "Plans cannot make an enterprise successful. Nature or Characteristics of Planning. Plagiarism Prevention 5. It is Based on Clearly Defined Objectives 2. Meaning and Concept of Planning In simple words, planning is deciding in advance what is to be done, when where, how and by whom it is to be done. A good plan should establish standard. He has to pick the best depending upon requirements & resources of the enterprises. and promoted by him in Tomorrow: A Peaceful Path to Social Reform (1898). Characteristics of Institutional Planning: After going thoroughly the concept and definition of institutional planning, the following main characteristics of the planning are determined. Production planning is the basis and pre-requisite of production control. Huge Collection of Essays, Research Papers and Articles on Business Management shared by visitors and users like you. Planning provides competitive edge to the enterprise over the others which do not have effective planning. Characteristics of Marketing Planning. Planning to plan Someone has to make sure that regular planning takes place and that it is the appropriate form of planning. It leads to effective control. The top level may be more concerned about planning the organization as a whole whereas the middle level may be more specific in departmental plans and the lower level plans implementation of the same. (Solved) Describe the process of educational planning. The time period allowed for achieving goals should be reasonable even though planning is an attempt to anticipate the future. Destinations of all activities are called objectives. A number of studies have focused on hospital- … Although there was significant variation among these economies, Soviet-type planning and Soviet-type economies refers to the major structural characteristics common to these economies. Drs. It is comprehensive and includes each and every aspect of the objectives. This is because of the fact that planning may involve changing in work methods, quality, quantity designs, extension of work, redefining of goals, etc. Marketing planning is a formal and systematic approach. 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