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Planning involves setting goals and determining the best way to achieve them from "summary" of Fundamentals of Management (For B.Com, BBA, BBM and BMS) by J.P. Pathak
Planning is a crucial function of management that involves setting specific goals and determining the most effective way to achieve them. When managers engage in the planning process, they are essentially creating a roadmap that will guide the organization towards success. By clearly defining objectives and identifying the steps needed to reach them, managers can ensure that everyone in the organization is working towards a common purpose. Setting goals is the first step in the planning process. These goals should be specific, measurable, achievable, relevant, and time-bound (SMART). By establishing clear goals, managers provide employees with a clear direction and a target to work towards. Goals also serve as a benchmark for evaluating performance and measuring progress. Without clear goals, organizations can easily lose focus and become inefficient. Once goals have been established, managers must determine the best way to achieve them. This involves identifying the resources needed, deciding on the actions to be taken, and creating a timeline for implementation. Managers must also consider potential obstacles and develop contingency plans to address any challenges that may arise. By carefully planning out the steps needed to achieve their goals, managers can increase the likelihood of success and minimize the risk of failure. Effective planning requires a systematic approach that involves analyzing the current situation, setting objectives, identifying alternative courses of action, evaluating those alternatives, making decisions, and implementing the plan. Throughout this process, managers must communicate clearly with their team members to ensure that everyone is on the same page and working towards the same goals. By involving employees in the planning process, managers can increase buy-in and commitment, leading to better execution and results.- Planning is a fundamental function of management that involves setting specific goals and determining the best way to achieve them. By following a systematic approach and involving employees in the planning process, managers can create a roadmap for success and ensure that the organization is moving in the right direction. Effective planning is essential for achieving organizational goals and objectives and maintaining a competitive edge in today's fast-paced business environment.
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