• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Increase Sales
  • Effective Ads
  • Employee Selection
  • Leaderships Quality
  • Business Creativity
  • Small Start-ups

Googlesir

  • Employee Training
  • Marketing and Sales
  • Investment & Earning
  • Managerial Economics
  • Entrepreneurship and Career

12 Features of Good Planning in Business (With Example)

Updated on: August 2, 2020 Leave a Comment

Without planning, managers would fail to take proper decisions, and hence there would be chaos, not activity in the organization. Good planning in business provides avenues for improvements, growth, and development.

Features of good Planning in Business
Features of good Planning in Business

Page Contents

  • Features of Good Planning in Business
    • 1. Goal-Oriented
    • 2. Basic to all Managerial Functions
    • 3. Planning Pervasive
    • 4. Interdependent Process
    • 5. Continuous Process
    • 6. Forecasting Integral to Planning
    • 7. Planning is Future-Oriented
    • 8. Intellectual Process
    • 9. Planning is Integrating Process
    • 10. Planning and Control are Inseparable.
    • 11. Choice Among Alternative Courses of Action.
    • 12. Planning is a Flexible Process.

Features of Good Planning in Business

The following are the important features of a good and ideal Planning in Business.

1. Goal-Oriented

Planning is goal-oriented in the sense that plans are prepared and implemented to achieve certain objectives.

2. Basic to all Managerial Functions

Planning is a function that is the foundation of the management process.

Planning logically precedes all other functions of management, such as organizing, staffing and etc.

Because without the plan there is nothing to organize, nothing to control. Every managerial action to be properly planned.

Related: 9 Importance of Good Planning in Business.

3. Planning Pervasive

Planning is a function of all managers, although the nature and extent of planning will vary with their authority and level in the organizational hierarchy.

Managers at higher levels spend more time and effort on planning than to lower-level managers.

4. Interdependent Process

Planning affects and is affected by the programs of different departments in so far as these programs constitute an integrated effort.

  • Top 12 Importance of Effective Communication in Business
  • 12 Qualities of Effective Leadership in an Entrepreneur

5. Continuous Process

Planning is an ongoing process.

Old plans have to be revised and new plans have to be prepared in case the environment undergoes a change It shows the dynamic nature of planning.

6. Forecasting Integral to Planning

The essence of planning is forecasting. Plans are the synthesis of various forecasts.

Thus, planning is inextricably bound up with planning.

Related: 21 Key Benefits and Importance of Sales Forecasting.

7. Planning is Future-Oriented

Planning is looking forward and it prepares an enterprise for the future.

8. Intellectual Process

Planning is a mental or conceptual exercise.

It, therefore, involves rational decision making, which requires imagination, foresight, sound judgment: and involves thinking before doing the thinking on the basis of facts and information.

9. Planning is Integrating Process

Planning is essential for the enterprise as a whole. Newman and others have been drawn our attention towards this feature of planing. ‘without planning, an enterprise will soon disintegrate the pattern of its actions would be as random as that made by leases scampering(running quickly in short steps) before an autumn wind.

Generally, its employees would be as confused as ants in an upturned anthill.

Related: 12 Essential Steps in Planning Process (Explained).

If there are no plans, action will be a random activity in the organization, and there will be chaos.

10. Planning and Control are Inseparable.

Unplanned action cannot be controlled without control, panned actions cannot be executed. Plans furnish standards of control.

In fact, “Planning is meaningless without control and control is aimless without, planning.” Planning is the measuring rod for efficiency.

11. Choice Among Alternative Courses of Action.

The need for planning arises due to several ways available for action.

If there is only one way out left, there is no need for planning.

12. Planning is a Flexible Process.

The Principle of ‘navigational change’ (I.e. change according to changes in the environment) applies to plan.

In other words, effective planning requires continuous checking of events and forecasts, and the redrawing, of plans to maintain a course towards desired goals.

Thus, plans have to be adaptable to changing circumstances.

Now you know the important features of good planning in business.

Read More

  • 14 Principles of Planning – Explained with Examples
  • Capitalism: Definition, Features, Pros, Cons, Examples
  • Demand Forecasting: Meaning, Objectives, Features, Need & Limitations
  • Top 15 Factors that Affecting Market Segmentation
  • Top 10 Objectives Of Fiscal Policy (Economy)
  • The 12 biggest Challenges Businesses face Today (and need consultants for)
  • 17 Major Problems of Public Sector (Economy)
  • Top 10 Difficulties or Limitations of Planning (With Examples)
  • Market: Meaning, Definitions, Characteristics (Economics)
  • Microeconomics: Definitions, Features, Scope, Importance (Step-by-Step)
  • Top 16 Need and Importance of Business Environment (Updated)

Share Now:

  • Share
  • WhatsApp
  • Tweet

Leave a Comment

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

E-mail Newsletter

More to See

how to achieve workers participation in management

17 Primary Methods of Workers Participation in Management (WPM)

What are main reasons of industrial disputes

15 Reasons for the Occurrence of Industrial Conflicts

How to Make a Successful Participative Management

How to Make a Successful Participative Management

challenges of workers' participation in management

10 Basic Limitations of Workers Participation in Management

need and importance of collective bargaining

What is Collective Bargaining and Why it is Important to Workers?

Footer

FREE Exclusive Notes via Email

Enter your email below to get access to Our All helpful Tips and Articles

Search

DMCA.com Protection Status

Join Us

  • Home
  • Contact Us
  • Privacy Policy
  • About us
  • Sitemap

© 2021Copyright www.Googlesir.com