(i) Primary function: Planning is a primary function as it is the first task of business management. All other functions of business management such as organising, staffing, directing and controlling are done after planning. Infact, whenever we are going to do any event or activity at first we make plan and accordingly we will perform to obtain desired results.
(ii) Planning is futuristic: Planning always means looking ahead or planning is a futuristic function. Planning is never done for the past. All the managers try to make predictions and assumptions for future and these predictions are made on the basis of past experiences of the manager and with the regular and intelligent scanning of the general environment.
(iii) Pervasiveness: Planning must be done at all levels of the organisation. Not only confined to the top level. Planning is performed at every level of management. However, its scope differs along the various dimensions of business.
(iv) Planning is continous: Planning should be done continuously. This is because after the completion of one plan period, need arises for formulation of another plan, keeping in views the new objectives and circumstances. Moreover, within a plan period, need may arise to modify the plans as per the changing needs and requirements. Thus, planning does not have an end. It is a continuous process all along the life of a business enterprise.
(v) Planning involves decision making: Planning is a process of making choices amongst the different alternatives for the attainment of the desired objectives. Planning help the managers to look into the future and make a choice from amongst various alternative courses of action.