PLANNING: Objectives of Planning

In today’s ever changing world, for the success of any business or industrial unit Management and Administration should lay a strong foundation, and this is achieved by Planning.

Planning initiates the intellectual process as deciding the objectives, drafting the plans and programmes, defining the policies for optimum utilization of the accessible human and material resources. So that pre defined objectives may be achieved in any organization.

Planning facilitates Managers and Administrators of any business or industrial unit to make progress as per the needs of the desired objectives. Below given are some of the Objectives of Planning:-

Forecast’s the Course:

The most important ingredient of planning is forecasting. This is basically plan development as per policies and requirement of the organization.

Forward Bearing:

Planning provides specific forward momentum to all the activities in the organization by chalking out the future working procedure.

Assured Activities:

Planning drafts the policies, working procedure and decides controlling process for the activities in an organization so that confidence level increases in employees & management regarding the accomplishment of predefined goals.

Forecast’s the Risk:

Planning forecasts the future threats, therefore technical strategies are most often planned and decided in advance to overcome the inconsistency or tackle the problems successfully.

Helps in Establishing Co-ordination:

Planning is the forefront initiator in any organization regarding coordination. This coordinates all the departments and also policies, procedures, objectives, etc. in business or industrial unit.

Develops in Facing Competition:

Assists and develops the organization to face competitions of all sorts and in all aspects. This strategic process is part of the objectives of planning.

Managing Budgetary Targets:

Budgetary Targets are executed & achieved as per the planning. It is a helping hand in planned budget utilization.

Present Important Information’s:

Planning makes available adequate information and communicates it to the employees in the organization as well as presents a positive picture of organization, its policies, functioning and results to the outside world.

Economy in Management:

Having better coordination in an organization between employees & management the pre decided goals proceed as per the requirement, all types of  wastage's is brought to the minimum. This helps in achieving the efficiency in the overall economy of management.

Supports in Maintaining Healthy Competition:

The employees in an organization are in continuous competition among the fellow employees of any specific department because actual job performance & achievement is the base criteria for any future incentive or promotion. This may bring jealousy or utilization of unfair job hindering techniques in performing different activities to the fellow employees, which ultimately slows the overall goals of any business or industrial unit. Hence, an ethical attitude with unbiased planning is maintained for the actual growth of the unit.