Essentials of Good Planning Part - III

This is in continuation to my earlier Blog Post on “Essentials of Good Planning”. Some of the remaining points are explained below:-

RELIABLE: Businesses performing upon reliable information and planning are ought to be more efficacious than otherwise. Planning to be reliable must be based and constructed upon reliable information, data, facts and figures from trustworthy sources. Planning done with precise data and facts as well as by competent planners is found to be more reliable and thus successful in the future.

OPTIMUM UTILIZATION OF RESOURCES: Planning is prepared for the organization as a whole and in order to be effective it must be economical, comprehensive and support utilization of the available resources to the maximum thus eliminating or minimizing wastage. Management can make the planning more effective by considering available resources like materials, finance, equipment, employees, etc. and designing activities and procedures which can maximize the contribution and utilization of these resources.

UNITY: An effective planning must be one which projects plan for the organization in such a manner so that the departmental objectives can be achieved in the process of achieving the organizational objective. Such type of arrangement supports unity in the organization as all the departments work in harmony to achieve their departmental objectives which ultimately contributes to the achievement of organizational objective. This type of planning also eliminates any chances of unnecessary chaos and conflicts between departments.

EASY IMPLEMENTATION: An important aspect of planning is its successful implementation. As discussed in the earlier posts (hyperlink) ‘planning must be operational’ likewise it should be one which can be easily implemented. Plans which cannot be implemented are of no use. Thus, planning in order to be effective must be one which arranges for the plans and procedures as well as consider necessary resources which can help in easy implementation of the plan.

BALANCED: An effective planning is one which is designed and implemented with a balanced approach i.e. common development of all the departments. It should consider the progress in each aspect of the business with simultaneous growth of the employees and the organization.