MANAGEMENT

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

Detailed explanation-2: -Planning is called a mental exercise in management because it involves application of high order thinking skills and intellectual faculties involving vision and foresightedness to decide the things to be done in the future.

Detailed explanation-3: -Planning is the mental process that allows us to choose the necessary actions to reach a goal, decide the right order, assign each task to the proper cognitive resources, and establish a plan of action. Even though everyone has the ability to plan, some people do it in a different way.

Detailed explanation-4: -Planning involves the setting of goals and these predetermined goals are accomplished with the help of managerial functions like planning, organising, staffing, directing and controlling. Planning provides standards against which actual performance is measured.