(a)OR(b)

Explain the following features of ‘Planning’:

(i)

Planning is continuous

(ii)

Planning is futuristic

Features of ‘Planning’: • (i) Planning is continuous: A plan is framed, it is implemented, and is followed by another plan, • and so on. Thus, it is continuous in nature. Plans are prepared for a specific period of time and at the end of that period, a new plan is drawn on the basis of new requirements and future conditions. • (ii) Planning is futuristic: Planning involves looking ahead and preparing for the future, to meet • future events effectively to the best advantage of an organisation. Planning is regarded as a forward-looking function based on forecasting future events and drawing plans accordingly.• (i) Objectives: Objectives are the ends, which the management seeks to achieve. They are usually set by top management of the • organisation and focus on broad general issues. Objectives need to be expressed in specific terms i.e. they should be measurable in quantitative terms and are to be achieved within a given time period. • (ii) Rules: Rules are specific statements that inform what is to be done and not to be done. They do not allow for any flexibility or • discretion. They reflect a managerial decision that a certain action must or must not be taken.