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Importance of Planning (1.Planning Affects Performance. (main objectives…
Importance of Planning
1.Planning Affects Performance.
main objectives
Organisational success
measure of success
return on investment
volume
growth rate
sales
earning per share
depends on
sound planning.
2.Ensure Efficient Utilisation of Resources
Planning evaluates
various course of
action in
light
available resources.
ensures
better utilisation
resources.
It involves
lot of mental
exercise directed
towards achieving
efficient towards.
3.Effective Co-ordination
Because Of uniformity
brought by
Planning activities
various department
are integrated
in process
planning
helps in
bringing
co-ordination between
physical
human resources
5.Minimises Risk and Uncertainty
dynamic business
environment
many tangible
intangible
changes take place.
No doubt Planning
does not aim
stopping changes
but prepare
organisation
reduce
uncertainty arising
out of them.
6.Brings Economy in operation
Basis of objectives
different alternatives
are designed
best possible
is selected
for achieving
objectives.
i.e, men
material
methods
machine and
properly utilised
minimise the wastages
7. Aids Decision Making
Planning specifies
action &steps
be performed
for accomplishing
organisational objectives.
provides
guidelines for
sound
decision making
4. Makes Activities Meaningful
Action to be
taken are
directed towards
achievement goals
makes activities
meaningful
when establishes
relationship
between efforts
of workers
goals of organisation
8.Helpful in Development Expansion.
helps
analysing all
opportunities available
light resources
makes expansion
possible
in addition
to creativity