MGMT PLANNING



FUNCTIONS OF MANAGEMENT

 

PLANNING

Planning is a process of determination of organization’s objectives and selecting the courses of actions. i.e. Plans for attaining them.

Planning is the primary or basic management function.

 

Planning Process

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Types/Dimensions of Planning

 

  1. Corporate Planning :            Business product line

 

  1. Long term Planning :            > 5years

 

  1. Short term Planning :          1 year

 

  1. Medium term Planning :     2-5 years

 

  1. Strategic planning :               Long term, corporate planning for dealing with the organization  Competitive environment.

 

  1. Operational or Tactical Planning :  Plans that specified detail operations needed to achieve The overall organizational goals. (Short range planning)

(Administrative Plans)

 

  1. Functional Planning :                         Production, Marketing, Personnel,  Finance.

 

 

Components/Elements of Planning

 

Objectives :    The basic tools that underline all planning and strategic activities.

 

Strategy:         The Long term action plan to attain objectives.

 

Policies:           These are general statements or understanding that guide or channel thinking in decision making.

 

Procedure:      A Chronological Sequence of steps or actions to be taken to accomplish a  Specific task or job.

 

Method:          It is a prescribed way of completing a step in a procedure.

 

Rules:           Specific recored statements that direct what must or must not be done in a Given situation.

 

Standards:      It is a measure against whuch the level of performance is measured or  Evaluated.

 

Programmes: An action plan consisting sequence and timing of steps necessary to achieve Objectives.

 

Schedules:        A plan which indicates the time of commencement of task, passing through Different stages or process and finalising the task.

 

Budgets:        Numerical Plan containing expected result in quantative way.

 

Project:          It is smaller action plan and a distinct part of a programme.

Tactics:          Short term action plan for implementing strategy.

 

 

 


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