1. Intellectual process: - Planning is mental exercise and intellectual process. Managers have to consider various course of action to reach the goal. They have to identify pros and cons of every alternate. Planning is not guess work, it is intellectual process.
2. Future oriented: - Planning is always future oriented; it is prepared for future not for today. It is looking forward. Planning anticipates future opportunities and threats.
3. Goal focused: - Planning aims to achieve goal in future. The main objective of formulating planning is to achieve goal in time. It identifies right course of action to reach the goal.
4. Pervasiveness of plan: - Planning is needed at all level of management. All managers in organization formulate plan, but in nature of plan may differ. Planning is required for all type of organization.
5. Increase efficiency: -Planning increase efficiency. Planning aims to achieve goal at low cost. Planning basically focus on better utilization of resources. It reduces cost by controlling wastage, scraps and rejects.
6. Decision making: - Planning and decision making are interrelated. Planning is selecting right course of action to reach the goal. Therefore, it also involves developing and evaluating alternatives. Decision making is also selecting best alternatives out of available alternatives.
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