Thus, now you know the nature and characteristics of planning in business. Planning is made to achieve desired objective of business. It’s not meant to be a static document put on the shelf or printed with a pretty, glossy cover. Functions of planning are that of a guide. Planning is not only the base for the rest of the management functions i.e. Sustainability means that there should be a balance between people and resources. It is an intellectual process. Nature or Characteristics of Planning. Planning is the flexible function of management because changes are made in it, according to circumstances. Planners help communities create their preferred future – good planning makes progress toward paradise while bad planning leaves a legacy of problems and disputes. Bottom-Up Approach: Initiatives in formulating strategy are taken by the various units or divisions of an organization … 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. A plan starts with the setting of objectives and then makes efforts to realize them by developing policies, procedures, strategies, etc. Planning is a noble but underappreciated profession. The main characteristics or nature of planning is given below: ADVERTISEMENTS: Planning is an Intellectual Process. The goals established should general acceptance otherwise individual efforts & energies will go misguided and misdirected. Strategic planning is the plan that’s put into place. Arthur A. Thompson and A. J. Strickland have described four basic approaches to formal strategic planning: 1. 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. A plan starts with the setting of objectives and then makes efforts to realise them by developing policies, procedures, strategies, etc. The following are the important characteristics of planning: 1. It provides sense of direction to various activities. Planners perform civilization’s heavy lifting by … 1. If a manager wants to make a plan, then it will have to do research on past, present, and future environmental conditions. Planning identifies the action that would lead to desired goals quickly & economically. 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. 2. Planning is goal-oriented. It is an intellectual process. Main Nature or Characteristics of Planning! 2. 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. Six characteristics of successful strategic plans Published on January 22, 2016 January 22, ... After 20 years of facilitating strategic planning for … Basic and Important Management Function. Planning is an intellectual process of thinking in advance. Focus on objectives. It is a process of deciding the future on the series of events to follow. It’s meant to be the document that makes the vision a … The plans framed by top level manager may differ from the plans formed by middle and lower level managers. Strategic Planning – Approaches . Planning is a process where a number of steps are to be taken to decide the future course of action. Read More: The following are the important characteristics of planning: 1. 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