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Explain the meaning and importance of planning.

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Planning is Deciding in Advance , “What to do” and “How to do it” . It is one of the Basic Managerial Function . Before doing something, the Manager must Formulate an Idea of , How to Work on a Particular Task . Thus Planning is clearly connected with “Creativity” and “Innovation”. Planning Seeks to Bridge the Gap between , “Where we Are” and “Where we Want to Go” . It is concerned with both Ends and Means , i.e. “What is to Done” and “How it is to be Done”. Managers think in Advance on “Whatto Do” and “How to Do it” . This is the Essence of Planning. 

IMPORTANCE OF PLANNING : 

1. Planning provides direction : By starting in Advance, How work is to be done , Planning provides direction for action . Planning ensures that the goals or objectives are clearly stated so that they act as a guide for deciding, what action should be taken and In which direction. It goals are well defined, employees are aware of what the organization has to do and what they must do to achieve those goals . Departments and individuals in the organization are able to work in co-ordination. If there was no planning, employees would be working in different directions and the organization would not be able to achieve its desired Goals . 

2. Planning reduces the risk of uncertainties: Planning is an activity which enables a manager to look ahead and anticipate changes. By deciding in advance the tasks to be performed, planning shows the way to deal with changes and uncertain events. Changes or events cannot be eliminated, but they can be anticipated and managerial responses to these can be developed.

3. Planning reduces overlapping and wasteful activities:Planning serves as the basis of co-coordinating the activities and efforts of different divisions, departments and individuals. It helps in avoiding confusion and misunderstanding. Since planning ensures clarity in thought and action, work is carried on smoothly without interruption. Useless and redundant activities are minimised or eliminated. It is easier to detect inefficiencies and take corrective measures to deal with them . 

4. Planning promotes innovative ideas: Planning is thinking in advance and therefore, there is scope of finding better ideas and better methods and procedures to reach the objectives / goals of the enterprise . This forces the managers to think differently about the future of the organization as compared to the present . 

5. Planning facilitates decision making: Planning helps the manager to look into the future and make a choice amongst various alternative courses of action. The Manager has to enhance each alternative and select the most visible proposition. 6. Planning establishes standards for controlling : Planning provides the goals or standards against which the actual performance can be measured and evaluated . 

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