Planning :
Basic function of management. It is deciding in advance what is to be done.
It is thinking before hand.
If you fail to plan, you plan to fail .
7 Features of Planning :
Focuses on achieving objectives.
Primary function of management.
Pervasive
Continuous.
Futuristic.
Involves decision making.
Mental exercise.(what,how,when and who to do it?)
6 Importance of planning :
Provides direction.
Reduces risk of uncertainly.
Reduces overlapping and wasteful activities.
Promotes innovative ideas.
Facilitates decision making.
Establishes standards for controlling.
6 Limitations of planning :
Creates rigidityor inflexibility
-internal inflexibility (due to policies and procedures planned earlier ,revising plan becomes tough )
-external inflexibility (political, economic, natural environmental changes)
Does not work in a dynamic environment .
Reduces creativity .
Involves huge cost (managers should take and go through lots of information and studies ).
Time consuming.
Does not guarantee success.
7 Planning process
Setting objectives.
Developing premises
-internal premises
-external premises.
Identifying alternative courses of action.
Evaluating alternative courses
-no of alternative courses are set to minimum
-based on minimum preliminary criteria.
Selecting an alternative.
Implementing the plan.
Follow up.
2 Types of plan :
Standing or repeatedly used plan.
Single or special use Adhoc plan .
Standing or repeatedly used plan.
Refers to a plan that is ongoing and provides guidance for repeatedly performed actions in an organisation.
1.Objective (endpoints for which all the activities are undertaken.)
2.Strategy (comprehensive plan on how to achieve objectives set)
3.Policy (employee promotion policy )
4.Procedures(sequence or order of steps to be done for taking ann action)
5.Method (more detailed than procedure,determines how each step in procedure is completed )
6.Rules (No change rules like no smoking inside office )
Single-use plan.
Used for special situation or made for need of unique situation.
Programme
-single use comprehensive plan laying down the “what, how,who and when “of accomplishing a specific job in an organisation A new program is designed for each new work. Eg :Training program
Budget
Refers to the quantitative expression of plan of actions.
Describes the results in numerical terms.
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