Arthur A. Thompson and A. J. Strickland have described four basic approaches to formal strategic planning: 1. Planners perform civilization’s heavy lifting by … Planning is the flexible function of management because changes are made in it, according to circumstances. It is a process of deciding the future on the series of events to follow. Planning is a process where a number of steps are to be taken to decide the future course of action. Read More: If a manager wants to make a plan, then it will have to do research on past, present, and future environmental conditions. staffing, directing, organizing, and controlling, but it is also one of the most crucial processes for any organization to meet goals. Focus on objectives. Planning is regarded as a measurement of the ability, efficiency, and skills of the managers. 1. It’s meant to be the document that makes the vision a … Strategic Planning – Approaches . Planning is not only the base for the rest of the management functions i.e. It is an intellectual process. 2. Characteristics/Nature Of Planning 1. The main characteristics or nature of planning is given below: ADVERTISEMENTS: Planning is an Intellectual Process. A plan starts with the setting of objectives and then makes efforts to realize them by developing policies, procedures, strategies, etc. Use of resources in such a way that the environment should not Planning identifies the action that would lead to desired goals quickly & economically. Planning is a noble but underappreciated profession. Main Nature or Characteristics of Planning! Nature or Characteristics of Planning. The other important task of the leader is to put an effective plan into place to achieve the vision. Sustainability means that there should be a balance between people and resources. The plans framed by top level manager may differ from the plans formed by middle and lower level managers. Basic and Important Management Function. Functions of planning are that of a guide. Bottom-Up Approach: Initiatives in formulating strategy are taken by the various units or divisions of an organization … It’s not meant to be a static document put on the shelf or printed with a pretty, glossy cover. Focus on objectives. Planning is made to achieve desired objective of business. The goals established should general acceptance otherwise individual efforts & energies will go misguided and misdirected. There are six characteristics of planning which are of prime importance: The use of available resources as economical as possible, so as to achieve the greater possible measures of improvement within limited resources. Strategic planning is the plan that’s put into place. Thus, now you know the nature and characteristics of planning in business. Planning is a pervasive function which means it is not the task of top level managers only but managers working at different levels perform planning function. Six characteristics of successful strategic plans Published on January 22, 2016 January 22, ... After 20 years of facilitating strategic planning for … Planning is goal-oriented. A plan starts with the setting of objectives and then makes efforts to realise them by developing policies, procedures, strategies, etc. The characteristics of planning in management or in an organization include various points such as:-(i) Intellectual process or activity-It is a complex process. The following are the important characteristics of planning: 1. Characteristics of Planning includes Planning is a Primary Function of Management, Thinking and intellectual process, Planning is a continuous process, Pervasiveness of planning, Based on facts, Goal oriented/ future oriented, Coordination and Others. 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