It is a basic function of management. Planning is the first important activity of the 4 functions in the management process. Planning is the base on which the other three activities should be build. As stated by KOONTZ, “Planning is deciding in advance – what to do, when to do and how to do. Planning is the vital link between the present and the future which raises the probability of accomplishing desired results. It is the logical thinking through goals and deciding as to what must be done so as to attain the organizations objectives. Planning allows the management to avoid the trap of working really hard but attaining very little. Planning is essential to guarantee proper utilization of organizational resources. All managers at every level of the organization participate in planning. Despite the fact that plans may differ in focus, they are all concerned with accomplishing organizational objectives in short and long term.