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12079 Delegation and Decentralization

Basis Delegation Decentralization Meaning Managers delegate some of their function and authority to their subordinates. Right to take decisions is shared by top management and other level of management. Scope Scope of delegation is limited as superior delegates the powers to the subordinates on individual bases. Scope is wide as the decision making is shared […]

12683 Centralization and Decentralization

Centralization is said to be a process where the concentration of decision making is in a few hands. All the important decision and actions at the lower level, all subjects and actions at the lower level are subject to the approval of top management. According to Allen, “Centralization” is the systematic and consistent reservation of […]

9873 Importance of Delegation

Delegation of authority is a process in which the authority and powers are divided and shared amongst the subordinates. When the work of a manager gets beyond his capacity, there should be some system of sharing the work. This is how delegation of authority becomes an important tool in organization function. Through delegation, a manager, […]

8794 Staffing Function of Management

The managerial function of staffing involves manning the organization structure through proper and effective selection, appraisal and development of the personnels to fill the roles assigned to the employers/workforce. According to Theo Haimann, “Staffing pertains to recruitment, selection, development and compensation of subordinates.” Nature of Staffing Function Staffing is an important managerial function- Staffing function […]

12091 Employee Remuneration

Employee Remuneration refers to the reward or compensation given to the employees for their work performances. Remuneration provides basic attraction to a employee to perform job efficiently and effectively. Remuneration leads to employee motivation. Salaries constitutes an important source of income for employees and determine their standard of living. Salaries effect the employees productivity and […]

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  1. Planning is goal-oriented.

    1. Planning is made to achieve desired objective of business.
    2. The goals established should general acceptance otherwise individual efforts & energies will go misguided and misdirected.
    3. Planning identifies the action that would lead to desired goals quickly & economically.
    4. It provides sense of direction to various activities. E.g. Maruti Udhyog is trying to capture once again Indian Car Market by launching diesel models.

  2. Planning is looking ahead.

    1. Planning is done for future.
    2. It requires peeping in future, analyzing it and predicting it.
    3. Thus planning is based on forecasting.
    4. A plan is a synthesis of forecast.
    5. It is a mental predisposition for things to happen in future.

  3. Planning is an intellectual process.

    1. Planning is a mental exercise involving creative thinking, sound judgement and imagination.
    2. It is not a mere guesswork but a rotational thinking.
    3. A manager can prepare sound plans only if he has sound judgement, foresight and imagination.
    4. Planning is always based on goals, facts and considered estimates.

  4. Planning involves choice & decision making.

    1. Planning essentially involves choice among various alternatives.
    2. Therefore, if there is only one possible course of action, there is no need planning because there is no choice.
    3. Thus, decision making is an integral part of planning.
    4. A manager is surrounded by no. of alternatives. He has to pick the best depending upon requirements & resources of the enterprises.

  5. Planning is the primary function of management/Primacy of Planning.

    1. Planning lays foundation for other functions of management.
    2. It serves as a guide for organizing, staffing, directing and controlling.
    3. All the functions of management are performed within the framework of plans laid out.
    4. Therefore planning is the basic or fundamental function of management.

  6. Planning is a Continuous Process.

    1. Planning is a never ending function due to the dynamic business environment.
    2. Plans are also prepared for specific period f time and at the end of that period, plans are subjected to revaluation and review in the light of new requirements and changing conditions.
    3. Planning never comes into end till the enterprise exists issues, problems may keep cropping up and they have to be tackled by planning effectively.

  7. Planning is all Pervasive.

    1. It is required at all levels of management and in all departments of enterprise.
    2. Of course, the scope of planning may differ from one level to another.
    3. The top level may be more concerned about planning the organization as a whole whereas the middle level may be more specific in departmental plans and the lower level plans implementation of the same.

  8. Planning is designed for efficiency.

    1. Planning leads to accompishment of objectives at the minimum possible cost.
    2. It avoids wastage of resources and ensures adequate and optimum utilization of resources.
    3. A plan is worthless or useless if it does not value the cost incurred on it.
    4. Therefore planning must lead to saving of time, effort and money.
    5. Planning leads to proper utilization of men, money, materials, methods and machines.

  9. Planning is Flexible.

    1. Planning is done for the future.
    2. Since future is unpredictable, planning must provide enough room to cope with the changes in customer’s demand, competition, govt. policies etc.
    3. Under changed circumstances, the original plan of action must be revised and updated to male it more practical.

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