Explain the Six P’s of Planning?
The six P’s of planning are related with the basic requirements of planning. These are:-
1. Purpose: Purpose is the first need in the process of planning. In order to be effective, the process of planning requires that there should be clear understand regarding the purposes for which planning has to be done. In the same way, the reason behind the existence of the organization should also be mentioned. For example the purpose behind the existence of an organization can be to increase profits or to increase its market share. In the same way, the purpose of some organizations is to introduce new products in the market. Therefore, it is very important that the purpose of the organization should be understood clearly.