Planning is a fundamental management function that involves making decisions

in advance regarding what needs to be done, when it should be done, how to do

it, and who will be responsible. It is an intellectual process where an
organization's objectives are defined, and various courses of action are
developed to achieve those objectives. Planning is essentially thinking before
taking action, providing insights into the future and allowing for proactive
decision-making.

Characteristics of Planning:

1. Managerial Function: Planning is a primary managerial function that serves as

the foundation for other management functions like organizing, staffing,
directing, and controlling.

2. Goal Oriented: It revolves around defining organizational goals, exploring

alternative actions, and determining the appropriate action plan to reach those
goals.

3. Pervasive: Planning is present in all segments and levels of the organization,

with varying scopes based on different levels and departments.

4. Continuous Process: Plans are created for specific durations, and once that
period concludes, new plans are developed, considering the present and future
requirements of the organization. It is an ongoing process.

5. Intellectual Process: Planning involves mental exercises such as thinking,

forecasting, intelligent imagination, and innovation.

6. Futuristic: It includes looking into the future, analyzing and predicting it to

enable the organization to effectively face future challenges.

7. Decision Making: Planning entails making decisions about selecting the best
alternative courses of action with the least negative and the highest positive
outcomes.

In summary, planning is a comprehensive activity focused on setting objectives,

targets, and formulating plans to achieve them. It serves as both a necessity for
the organization and a responsibility for managers, helping analyze the current
situation and chart a path towards a desired future position.