Planning Function

Planning is a managerial function that deals with framing organizational objectives and devising ways to achieve them. Managers plan business activities at all levels: top, middle and low, though more planning is required at top levels than lower levels.

While top managers plan for the whole organization, middle level managers plan for their respective departments and lower level managers plan for day-to-day business operation.

All sizes of organizations plan their operation. While large-sized organizations spend more time on planning, small sized organizations spend comparatively less time.

Business organizations make ling-term , medium-term and short-term plans depending upon the nature of their operation. Manufacturing units make more of long-term plans while retailers engage more in short term planning.

Planning involves forecasting, laying down objectives of the firm, thinking of different courses of action and deciding one of those to achieve the goals.

Planning, thus, involves. Decision making that is, deciding a course of action for framing and achieving objectives.

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