Importance of Planning Function Organizations can be like taking actions and actions but not getting the intended results without planning. Planning is the main function that every organization has to take in order to attain the intended goals. The importance of planning is that it is the means of organizational goal attainment and success. Planning…
Principles of Planning Planning principles are guidelines for formulating effective plans and implementing them. They guide managers on how they should make plans and implement them in order to achieve the desired goals efficiently. Planning is an essential tool for organizational success and goal achievement. It is the basic and most significant management function. Planning…
Types of Plan Types of the plan (types of planning): Planning is the essential aspect of setting goals, managing resources, choosing courses of action, and ensuring the desired goal achievement. Plans are essential tools organizations use to attain the intended goals or objectives. Depending upon the authority, purpose, situations, time, and nature there can be…
What is Planning Process? The planning process is a sequence of steps following which you can make an effective plan for yourself and for your organization’s goal achievement. Planning itself is a process, that is to say, it defines the desired goals an organization wants to achieve and chooses necessary activities that are meant to…
Characteristics of Planning Planning can be defined as an action that is deciding today what and how to do in order to achieve the desired goals. Planning is an inevitable part of every organization. Being the first among management functions managers need to formulate effective plans to ensure effective functioning in the workplace and achievement…
What is Goal Formulation? A goal is the desired outcome of an individual or an organization. Goal formulation or goal setting is the process of specifying the desired goal. It is a complex as well as a unique process in the organization. Goals serve as the foundation of all organizational decisions and give a unified…
Every business is established to achieve a certain goal. Suppose you go to college, and your goal is scoring good grades and getting a good job, maybe. Similarly, organizations are established to achieve their desired goals which are known as organizational goals. Here we will discuss what the organizational goal is, its features, objectives, principles,…
Types of Organizational Goals The strategic objectives that serve as the focus of an organization’s actions are known as organizational goals. There are different types of organizational goals that can be found in organizations. Every organization’s goal is unique and different. Based on the business nature, the level of the hierarchy, and the time frame…
Arguments For and Against Social Responsibility The social responsibility of business has been an essential tool to enhance the living standards of society. However, there have been various arguments for and against social responsibility. Many argue that social responsibility is good for business and all of its stakeholders whereas others argue against it as it…