Fundamentals of Planning- Introduction

Planning is the process of bridging the gap between where we are and where we want to be in the future. In other words, planning is “looking ahead, relating today’s events with tomorrow’s possibilities.” It is the process of deciding in advance what to do, how to do, when to do it, and who does what. Proper planning minimizes risk and ensures that resources are efficiently and effectively utilized.

Planning and controlling are inseparable. Planning involves determining organizational objectives and developing strategies to achieve the objectives, while controlling involves establishing standards of performance and comparing actual results with the planned results. Controlling without planning is meaningless. Unless one knows where to go, one cannot tell whether one is going in the right direction or not. Planning gives an organization the required focus and direction. Thus planning is a prerequisite of the control function.

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April 2, 2022 at 10:19 AM

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