APRIL IREN CLAIRE J. BALABALA
MSPH
NGS 541 BASIC PRINCIPLES IN MANAGEMENT
CRITICAL ANALYSIS PAPER OF PUBLISHED RESEARCH STUDY ABOUT
PLANNING
Newman has thus defined it as, “Planning is deciding in advance what is to be done; that
is a plan is a projected course of action.” Planning is the process through which managers identify
goals and determine the procedures for achieving those goals. Planning include choosing missions
and objectives, as well as the activities to attain them; it necessitates decision making, which entails
picking from among various future courses of action. As a result, planning might be defined as
deciding on a future path of action. It may also be viewed as a process of contemplation before
action. Management must plan for long-term and short-term future directions by looking ahead,
anticipating and analysing the future behaviour of the relevant environment, and identifying the
enterprise's planned function. Planning enquires about organizational strengths and weaknesses
and involves decision making about desired ways and means to achieve them. It includes
specifying various types and quantities of physical and other resources to be accumulated from
outside, allocating these resources as efficiently as possible among competing claims, and making
preparations for the systematic processing of these resources into output products.
Management decision making is the process of selecting a course of action after analysing
several possibilities to achieve an organization's goals. Problem solving, budgeting, mentoring,
planning, organizing, staffing, and controlling are all aspects of management. As a result, the
process of management decision making functions as a constant, dynamic check and balance
system to guide a company to long-term success. There are several of collection of approaches and
tools that a manager can use to investigate many choices before making a decision. Marginal
analysis assists firms in allocating resources to improve profits and benefits while decreasing
expenses. A marginal analysis may reveal that hiring that individual produces a net marginal
advantage since the capacity to generate more items balances the rise in labor expenses, according
to an example from indeed.com. And we can also use the SWOT Analysis or the analysis of
Strength, Weakness, Opportunities and Threats. When dealing with several options and factors, a
Decision Matrix can give clarity. It functions similarly to a pros/cons list, except decision-makers
can assign a level of priority to each aspect. Dashboards recommends creating a decision matrix.
In conclusion, Planning refers to the process of reviewing an organization's goals and
developing a strategy to fulfil those goals. Management planning is significant for various reasons,
the most important of which is that it helps management to make good decisions. Furthermore, the
relevance of planning is that it is critical to an organization's sustainability and success since it
promotes reliability, economics, and operating excellence. To reach the specified goal under
planning, the firm must make numerous decisions while taking into account the available
resources. Controlling actual performance is compared to the expected progress (target/objective).
So planning is the foundation of process control; project plan specifies the job and its method of
execution. Planning is the process of thinking advance, and thus plans are made to accomplish a
goal at a future point by using the latest technologies and methods to conduct industrialization,
and thus plans guide to advancement. Management organizes unorganized resources such as
workers, machinery, and money into productive enterprise. These materials are organized,
directed, and controlled in such a way that the enterprise works toward achieving its objectives.
Management maximizes the usage of finite resources by picking the best feasible alternate use in
industry from a variety of options. It employs specialists and professionals, and these services
result in the application of their talents, knowledge, and proper usage, as well as the avoidance of
waste. When people and equipment are working to their full potential, there is no underutilization
of resources.
REFERENCES:
https://www.iedunote.com/planning-nature-importance-types
https://www.simplilearn.com/management-decision-making
https://www.mbaknol.com/management-concepts/importance-of-planning-inhttps://www.managementstudyguide.com/management_importance.htm