- Keeps the focus on the goals and outcomes: It forces members of the organization to stay focused on the broad goals for which the organization was founded rather than getting lost in the maze of ordinary operations.
- Reduces risk and uncertainty: Planning enables a company to deal with uncertainty and change. Instead of leaving future occurrences to chance, an enterprise can forecast them and make adequate preparations with the help of planning.
- It gives you a sense of direction: Planning keeps a company from stumbling and avoids pointless actions. It focuses human efforts on projects that benefit the activity.
- Promotes creativity and innovation: Innovation and originality are necessary for a company’s long-term success and growth. Planning is forward-looking and allows a company to deal with technological and other changes.
- Contributes to coordination: With the support of an overall plan, the actions and efforts of many departments and divisions can be harmonized. The goal of planning is to establish a well-coordinated operation structure.
- Guides in decision making: Planning aids in making future-oriented decisions by serving as a criterion for evaluating many possibilities so that the optimal course of action can be chosen by forecasting the future.
- Operational efficiency: Planning ensures that available resources are used to their full potential. It allows things to happen that would not otherwise be feasible and improves an organization’s competitiveness by assisting it in identifying and exploiting opportunities.
- It makes control easier: Control is built on the foundation of planning. Plans serve as benchmarks for assessing performance.
OVERVIEW OF MANAGEMENT
Definition and importance of management
Functions of management
Managerial roles
Evolution of management thought
Types of management environment
0/6
PLANNING FUNCTION
Meaning and importance of planning
Principles of planning
Purpose of planning
Types of plans
Planning tools
Process of planning
Planning challenges
Making plans effective
Management by objectives
0/10
ORGANIZING FUNCTION
Meaning and Importance of Organizing
Structure and Designs of Organizations
Principles of Organizing
Process of Organizing
Delegation
Coordination
Centralization and Decentralization
Informal Organizations
0/9
STAFFING FUNCTION
Meaning and Importance of Staffing
Human Resource Planning
Recruitment and Selection
Training and Development
Performance Management
Reward Management
Separation
0/8
DIRECTING FUNCTION
Meaning and Importance of Directing
Leadership
Motivation
Communication
Group Dynamics
Conflict Management
0/7
CONTROLLING FUNCTION
Meaning and Importance of Controlling
Elements of Control
Characteristics of Effective Controls
Control Process
Role of Control in an Organization
Tools of Controlling
0/7
STRATEGIC MANAGEMENT
Overview of Strategic Management
SWOT Analysis
Strategy Formulation
Strategy Implementation
Strategy Evaluation
0/6
EMERGING ISSUES AND TRENDS
Organization Culture
Ethics and Social Responsibility
Managing Innovation and Change
Diversity and Inclusion
Corporate Governance
Globalization
0/7