Strategic Planning – Approaches . It provides sense of direction to various activities. Planning is a process where a number of steps are to be taken to decide the future course of action. Characteristics/Nature Of Planning 1. Planning is a noble but underappreciated profession. Planning is made to achieve desired objective of business. Nature or Characteristics of Planning. It’s meant to be the document that makes the vision a … It is an intellectual process. Planning identifies the action that would lead to desired goals quickly & economically. Main Nature or Characteristics of Planning! staffing, directing, organizing, and controlling, but it is also one of the most crucial processes for any organization to meet goals. Arthur A. Thompson and A. J. Strickland have described four basic approaches to formal strategic planning: 1. It is a process of deciding the future on the series of events to follow. The plans framed by top level manager may differ from the plans formed by middle and lower level managers. Basic and Important Management Function. 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. The following are the important characteristics of planning: 1. Read More: If a manager wants to make a plan, then it will have to do research on past, present, and future environmental conditions. Planners perform civilization’s heavy lifting by … 2. Thus, now you know the nature and characteristics of planning in business. Planning is the flexible function of management because changes are made in it, according to circumstances. The main characteristics or nature of planning is given below: ADVERTISEMENTS: Planning is an Intellectual Process. 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. The other important task of the leader is to put an effective plan into place to achieve the vision. Bottom-Up Approach: Initiatives in formulating strategy are taken by the various units or divisions of an organization … Focus on objectives. A plan starts with the setting of objectives and then makes efforts to realize them by developing policies, procedures, strategies, etc. Planning is an intellectual process of thinking in advance. 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. Planning is not only the base for the rest of the management functions i.e. 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. Focus on objectives. Sustainability means that there should be a balance between people and resources. Use of resources in such a way that the environment should not The following are the important characteristics of planning: 1. 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. 2. Planning is goal-oriented. Six characteristics of successful strategic plans Published on January 22, 2016 January 22, ... After 20 years of facilitating strategic planning for … It is an intellectual process. Strategic planning is the plan that’s put into place. 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