1. ESSENETIALS OF PLANNING & MANAGING BY OBJECTIVES

4. It is an intellectual process

5. Planning is a selective process: Planning involves selection of the best plan after making a careful analysis of various alternative courses of action. It concerned with the decision-making relating to-a) what is to be done? (b) How it is to be done? (c) When it is to be done? & (d) by whom it is to be done?

6. Planning is pervasive

7. Planning is an integrated process

8. Planning is directed towards efficiency

9. Planning is flexible

10. Planning is the most basic of all management functions

11. Planning is a continuous & never-ending process

13. It must be simple

14. It should be comprehensive

15. It should prove for a proper analysis & classification of action

16. It must be flexible

17. It must be balanced

18. It must use all available resources & opportunities utmost before creating new authorities & new resources

19. It should be free from social & psychological bases of the planners as well as the sub-ordinates

21. Planning provides certainty in the activities

22. Planning gives a specific direction to the organization

23. It establishes co-ordination in the enterprise

24. It is helpful in creating a healthy competition

25. It provides economy in the management

26. It can forecast the risk

27. It provides important information

28. It is helpful in facing competition

31. Ensures economical operations

32. Facilitates control

33. Encourages innovation & creativity

34. Improves motivations

35. Gives competitive edge to the enterprise

37. The hierarchy of organizational plans:

39. Principle of pervasiveness of planning

40. Principle of flexibility

41. Principle of limiting factors

49. The Steps Of the Planning Process 8 Budgeting. 7 Formulating Derivative Plans 6 Selecting a Course. 5 Evaluating Alter native Courses. 4 Determining Alternative Courses. 3 Developing Premises. 2 Establishing Objectives. 1 Being aware of Opportunities.

52. Objectives form a hierarchy as well as network.

53. Managers have multiple goals.

55. Mission of the business.

56. Specific overall objectives such as those in the key result areas.

60. Clarifications

61. Encouragement

64. Managers need to plan premises and knowledge of major company policies

66. Training

67. Adequate time and resources

68. Take care of the necessary mechanics

69. Timely feedback

71. M- MEASURABLE

72. A - ACHIEVABLE

73. R - REALISTIC