Discuss the necessity of having Planning and how it helps organisations and Describe various types of planning and their merits

Discuss the necessity of having Planning and how it helps organisations. Describe various types of planning and their merits

Discuss the necessity of having Planning

Planning is a necessary function of management as it helps organizations establish goals and objectives, and determine the resources needed to achieve them. There are several reasons why planning is essential for the success of an organization:

• Goal setting: Planning helps organizations set specific, measurable, attainable, relevant and time-bound (SMART) goals. This gives employees a clear understanding of what is expected of them, and it helps to align their efforts towards achieving the organization's objectives.
• Resource allocation: Planning helps organizations to identify and allocate the resources they need to achieve their goals. This can include things like human resources, financial resources, and technology.
• Problem prevention: Planning helps organizations anticipate problems and take steps to prevent them from occurring. This can include things like risk management, contingency planning, and emergency preparedness.

Describe various types of planning and their merits

• Flexibility: Planning helps organizations to be more adaptable and responsive to changes in the environment. This can include things like market trends, technological advancements, and changing customer needs.
• Competitive advantage: Effective planning can give organizations a competitive advantage by helping them to operate more efficiently and effectively than their competitors.
• Decision Making: Planning provides a foundation for decision making by providing information about the organization's goals, objectives, strategies, and resources.

Overall, planning is essential for the success of an organization because it helps to ensure that resources are used efficiently and effectively, goals are met, and problems are prevented, which leads to the achievement of the organization's objectives and ultimately its survival and growth.

How it helps organisations. Describe various types of planning and their merits

Planning helps organizations in several ways:

• Establishing direction: Planning helps organizations set goals and objectives and determine the resources needed to achieve them. This gives employees a clear understanding of what is expected of them and aligns their efforts towards achieving the organization's objectives.
• Improving efficiency: Planning helps organizations use their resources efficiently and effectively. This includes identifying and allocating the resources they need to achieve their goals, as well as anticipating problems and taking steps to prevent them from occurring.
• Enhancing adaptability: Planning helps organizations be more adaptable and responsive to changes in the environment. This can include things like market trends, technological advancements, and changing customer needs.
• Achieving competitive advantage: Effective planning can give organizations a competitive advantage by helping them to operate more efficiently and effectively than their competitors.

There are several types of planning, including:

Strategic planning: This type of planning is done at the highest level of an organization and focuses on long-term goals and objectives. It involves identifying an organization's overall mission and vision, and determining the strategies and tactics needed to achieve them.

Tactical planning: This type of planning is done at the middle level of an organization and focuses on medium-term goals and objectives. It involves determining the specific actions and resources needed to implement the strategies identified in strategic planning.

Operational planning: This type of planning is done at the lower level of an organization and focuses on short-term goals and objectives. It involves determining the specific tasks and activities that need to be done to achieve the objectives identified in tactical planning.

All of these types of planning have their merits. Strategic planning provides a long-term vision and direction for the organization. Tactical planning helps to align resources and actions to support the strategies. Operational planning helps to ensure that the day-to-day activities are aligned with the overall objectives of the organization. Each level of planning is essential and dependent on the other, with the higher level providing the overall direction and the lower levels providing the detail and implementation.

What are the various types of planning

There are several types of planning, including:

• Strategic planning: This type of planning is focused on setting long-term goals and objectives for an organization and determining the best course of action to achieve those goals.
• Tactical planning: This type of planning is focused on the implementation of specific actions and decisions that support the strategic goals of an organization.
• Operational planning: This type of planning is focused on the day-to-day operations of an organization, including the management of resources, scheduling, and coordination of activities.
• Contingency planning: This type of planning is focused on preparing for and responding to potential emergencies or crises.
• Financial planning: This type of planning is focused on forecasting and managing an organization's financial resources, including budgeting and forecasting of revenue and expenses.

Succession planning: This type of planning is focused on identifying and developing successors for key leadership positions within an organization.

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