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Fundamental Concepts Of Planning Essay

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What are the fundamental concepts of planning and why is planning important?
Planning basically refers on what has to be done keeping in mind other important points like when it has to be done and how. It is highly beneficial that an organization spends time on planning its activities and resources using sound business concepts. The fundamental concepts of planning include-
• Situation Analysis- This process involves a thorough review of the internal and external factors that facilitates businesses to determine their goals and objectives. Also, such data can be used as an input for SWOT analysis which includes the assessment of strengths, weaknesses, opportunities and threats that the organization sustains with.
• Mission, Vision and Value Alignment- Alignment is one of the most critical concepts of business planning. Every organization must have a clear picture of its stated mission and vision. It is also necessary for its owners to have an idea of why the business exists, what services it provides and who its clients are. With these in place and with the help of business planning, goals and objectives are aligned with the mission, vision and values of an organization.
• Clear Goals and Objectives- Clear goals and objectives in business planning ensure that everyone is aware of the various aspects of projects they are involved with and this helps to achieve greater efficiency and uniformity amongst the work groups. In addition, they also provide an indication of the resources that will be necessary for success.
• Focused Strategies- Planning facilitates the development of strategies in a way to best ensure the achievement of the goals and objectives established. They are designed to overcome your weaknesses and threats and build ...

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...in case one of the actual plans doesn’t work out.

Complexity- A good plan cannot be too complicated and difficult to understand by everyone involved with the plan. Everybody needs to have a perfect understanding of what the plan involves and what the expectations are.

Comprehensiveness- A good plan should be comprehensive yet not too detailed. It should find the right balance between covering all the important issues yet not flooding the plan with detail.

Significance- A good plan should include the significant goals and targets that can be easily achieved by the work groups. The goals need to be properly defined in a way that facilitates smooth functioning of the plan.

Completeness- Incomplete plans tend to lead to confusion, miscommunications and targets being missed. Hence, it is necessary that every plan needs to be completely defined in the right way.
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