Principles of Management. Lesson 05 Planning

The management functions of planning, organizing, leading, and controlling are widely considered to be the best means of describing the manager’s job, as well as the best way to classify accumulated knowledge about the study of management.

Planning is the systematic process of making decisions about goals and activities the organization will pursue (Bateman & Snell, 2013). The planning function of management is often seen as the “first” step in managing.

What is Planning? Planning is the primary function of management that involves formulating a future course of action for accomplishing a specific purpose. Planning enables managers to decide what task to do, how to do the task, when to do the task and by

It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources.

Managers are responsible for the long-range vision and goals within a company. The planning function includes this vision and goal-setting along with the work of creating a plan to reach those goals.

Planning requires identifying challenges and formulating objectives accurately. To lead successfully, create a shared vision, communicate effectively, and lead by example. Understanding and mastering these four functions will allow you to lead teams that