Question

Explain the following points of importance of 'Planning' function of management: (i) Planning facilitates decision making. (ii) Planning reduces…

Accepted Answer

(i) Planning facilitates decision making. § Planning helps the manager to look into the future and make a choice from amongst various alternative courses of action. § The manager has to evaluate each alternative and select the most viable proposition. (ii) Planning reduces overlapping and wasteful activities § Planning serves as the basis of coordinating the activities and efforts of different divisions, departments and individuals. This helps in avoiding confusion and misunderstanding. § Since planning ensures clarity in thought and action, work is carried on smoothly without interruptions. (iii) Planning establishes standards for controlling. § Planning provides the goals or standards against which actual performance is measured. § By comparing actual performance with some standard, managers can know whether they have actually been able to attain the goals. If there is any deviation it can be corrected. OR Procedure: § It consists of routine steps on how to carry out activities. It details the exact manner in which any work is to be performed. § It specifies the steps in a chronological order. Method § Method is the prescribed way or manner in which a task has to be performed. § It deals with a task comprising one step of a procedure and specifies how this step is to be performed. Programme § Programme is a detailed statement about a project which outlines the objectives, policies, procedures, rules, resources required and the budget to implement any course of action. § Programmes will include the entire gamut of activities in which the minutest details are worked out i.e., procedures, rules, budgets, within the broad policy framework.

Explain the following points of importance of
'Planning' function of management:
(i)
Planning facilitates decision making.
(ii)
Planning reduces overlapping and wasteful activities.
(iii)
Planning establishes standards for controlling.

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(a)OR(b)Explain the following points of importance of'Planning' function of management:(i)Planning facilitates decision making.(ii)Planning reduces overlapping and wasteful activities.(iii)Planning establishes standards for controlling.Explain 'Procedure', 'Method' and 'Programme' astypes of plans.

Marking-scheme solution

More from Planning

Explain the following points of importance of
'Planning' function of management:
(i)
Planning facilitates decision making.
(ii)
Planning reduces overlapping and wasteful activities.
(iii)
Planning establishes standards for controlling.