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Define 'Planning'. - Business Studies

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Define 'Planning'.

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Solution 1

Planning is a process which is primarily concerned with laying a foundation for the key goals of an organisation to be achieved. It makes sure that the organisation uses all its available resources to achieve the desired level of output in a given time. It ensures that the organisation follows a particular strategy in routine to achieve the desired results ultimately.

Solution 2

Planning implies to a state in advance, where to go and in which direction to move in order to achieve a target. Planning is a psychological process of thinking and deciding in advance about ‘what is to be done’ and ‘how it is to be done’. It is a mental activity in which the manager decides about the goals to be achieved and actions through which they are to be accomplished.

Concept: Concept of Planning
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