The Role of Planning as a Fundamental Management Function for Achieving Effectiveness in Business Organizations

10 Pages Posted: 21 Aug 2017

See all articles by Katerina Kareska

Katerina Kareska

University "St. Kliment Ohridski"- Bitola, Scientific Tobacco Institute- Prilep, R. North Macedonia

Date Written: August 20, 2017

Abstract

The main aim of the paper is to investigate the process of planning as one of the fundamental management functions and tools in more details. Moreover, the paper makes an overview of all advantages of implementing the well planning system for achieving best companies’ results. Planning is a process of setting companies’ goals, making assumptions about the business environment in which those goals should be archived and making a choice about the actions, means and ways in order to achieve the goals. Actually, planning is a system activity that determines when, how and who will perform a separate work activity. In fact, planning is a process that managers apply to identify and choose appropriate goals and directions for action for the organization. On the other hand, the plan is a list of steps and procedures for using time and resources to achieve the specified goals. The fact that planning system has significant advantages for organizations indicate that each business organization should include planning at all levels of management, with the aim of making a quality strategy. Accordingly, there is: operational planning, tactical planning, strategic planning and contingent (multivariate) planning. It’s no matter what king of planning the company is trying to implement, it’s not an easy job. Hence, the effectiveness in making a good planning system as a step towards creating the best corporate strategy is essential for achieving the best business results. In fact, the planning system minimizes uncertainty, facilitates coordination, improves moral principles, increases effectiveness and efficiency, facilitates control.

Keywords: Planning, Efficiency, Business Organizations, Corporate Strategy

Suggested Citation

Kareska, PhD Katerina, The Role of Planning as a Fundamental Management Function for Achieving Effectiveness in Business Organizations (August 20, 2017). Available at SSRN: https://ssrn.com/abstract=3022761 or http://dx.doi.org/10.2139/ssrn.3022761

PhD Katerina Kareska (Contact Author)

University "St. Kliment Ohridski"- Bitola, Scientific Tobacco Institute- Prilep, R. North Macedonia ( email )

PO box 201
Prilep, 7500
Macedonia

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