Planning is futuristic: Planning essentially involves looking ahead and preparing for the future, for example, sales forecasting is the basis on which a business firm prepares its annual plan for production and sales.

Planning is a primary function of management: Planning lays  down the base for other functions of management. All other managerial functions are performed within the framework of the plans drawn.

Planning is futuristic: Planning essentially involves looking ahead and preparing for the future. The purpose of planning is to meet future events effectively to the best advantage of an organisation.

Planning is a mental exercise: Planning requires application of the mind involving foresight, intelligent imagination and sound judgement.