Planning

Planning is the management function of anticipating the future and the conscious determination of a future course of action to achieve the desired results. A plan us a blue print of the course of action to be followed in future. Planning involves forecasting because in order to plan the future course of action it is essential to anticipate the future. While planning a manager prepares a map of the future, sets the goals to be achieved or the desirable results and decides the activities required to accomplish those results. Planning consists of both problem solving and decision-making. It involves determination of objectives and the means of achieving them.

Factors involved in Planning

Contribution to objectives:

Every major and derivative plan should contribute positively towards accomplishment of enterprise objectives. This principle is derived from the vision of the enterprise.

Efficiency of Planning:
The efficiency of a plan is measured buy the amount it contributes to objectives minus the costs and other undesirable consequences involved in the formulation and operation of the plans. This factor stresses upon economical use of individual effort to achieve group goals.

Primary of Planning:
A manager can hardly perform other managerial functions without a road map of plans to guide him. Planning is the primary requisite of other management functions because these functions are designed to support the accomplishment of enterprise objective.  

Planing Premises:
The main deficiency of panning arises from poorly structured plans. A well-coordinated structure of plans can be developed only when managers throughout the organization understand and agree to utilize consistent planning premises. 

Policy of framework:
A consistent and effective framework of enterprise plans can be deveoped if the basic policies that guide thinking in decisions are expressed clearly and are understood by managers who prepare the plans. The decisions which lead to plans cannot be accurately focused on enterprise objectives without framework of policies.

Timing of Plan:
When the plans are structured to provide an appropriately timed, inter-meshed network of derivatives and supporting program, the plans can contribute effectively and efficiently towards the attainment of enterprise objectives. Both premises and policies are useless without proper timing.

Limiting Factor:
While choosing from among alternatives the planner should focus on factors, which are critical to the attainment of the desired foal. This will help in selecting the most favorable alternative.

Commitment:
Logical planning should cover a time necessary to forecast the fulfillment of commitment involved in a decision. This is necessary to make reasonably sure of meeting commitments.

Flexibility:
This principles deals with the ability to change which is built into plans. he risk of loss due to unexpected event scan be reduced by building flexibility into plans.

Competitive Strategies:
While formulating plans, a manager should take into account the plans of rivals or competitors will do in the same situation.
     

   

Evolution of Management

Management has been practiced in some form or the other since the dawn of civilization. Ever since human beings began to live and work together in groups, techniques of organization and management were evolved. The Summerian Civilization dating back to 300 B.C. had an efficient system of tax calculation. The pyramids of Egypt, The Chinese Civil service, The Roman Catholic church, and military organization offer good examples of the application of management in ancient times.

The early contributions to management thought came from RCC. the principles of hierarchy of authority, territorial organization, functionally specialization, etc. developed in the RCC, Military Organizations contributed division of work, secular principle and staff concept. The camera lists were a group of Austrian and German pubic administrators and intellectuals from 16 to 18 centuries. They stressed systematic administration of the state affairs. They formulated the principle of functions=al specialization, proper selection and training of administrators, work simplification, effective control, etc.

thus, the art of management has ancient origins. However, the science of management developed largely after the Industrial revolution, which established the factory system. Scientific management movement laid the foundation of management as a science.

BUSINESS

EVERYTHING IS BUSINESS IN THIS WORLD.

Business is a regular process of producing or purchasing and selling of goods with the object of earning profit and acquiring wealth through the satisfaction of human wants. Thus when more are engaged in production or distribution of goods and services on a regular basis.

Management

Management is the process of designing and maintaining of an environment in which individuals working togethier in groups, efficiently accomplish selected aims.
        -Koontz and Weihrich


Management is the art of knowing what do you want to do and then seeing tha it is done in the best and cheapest way.
        -F.W.Taylor 

Management Principles

The principles of management have a tremendous impact upon the practice of management in increasing the efficeincy of the organisation. The need and importance of management principles can be visualized as

1. To increase Efficiency
2. To crystallize the nature of management
3. To carry on researches
4. To attain social objectives 
   

Major functional areas of business

1. Production Management
2. Personnel Management
3. Marketing Management
4. Financial Management

Management Process

1. Planning
   
2. Organizing
3. staffing
4. directing 
5. controlling