PLANNING
by ECG DAV
1. FEATURES-
1.1. 1. Planning focuses on achieving objectives
1.2. 2. Planning is a primary function of management
1.3. 3. Planning is pervasive
1.4. 4. Planning is continuous
1.5. 5. Planning is futuristic
1.6. 6. Planninginvolves decision making
1.7. 7. Planning is a mental exercise
2. CONCEPT-means setting objectives and targets and formulating an action plan to achieve them. It is concerned with both ends and means i.e., what is to be done and how it is to be done.
2.1. WHAT
2.2. WHEN
2.3. HOW
2.4. WHERE
2.5. WHY
2.6. WHOM
3. LIMITATIONS
3.1. 1. Planning leads to rigidity
3.2. 2. Planning may not work in a dynamic environment
3.3. 3. Planning reduces creativity
3.4. 4. Planning involves huge costs
3.5. 5. Planning is a time-consuming
3.6. 6. Planning does not guarantee success
4. PROCESS
4.1. 1. Setting Objectives
4.1.1. specific
4.1.1.1. S
4.1.2. measurable
4.1.2.1. M
4.1.3. achievable
4.1.3.1. A
4.1.4. realistic
4.1.4.1. R
4.1.5. time bound
4.1.5.1. T
4.2. 2. Developing Premises
4.2.1. External (Uncontrollable)
4.2.2. Internal (controllable)
4.3. 3.Identifying alternative courses of action
4.3.1. Routine
4.3.2. Innovative
4.4. 4. Evaluating alternative courses
4.4.1. positive
4.4.2. negative
4.5. 5. Selecting an alternative
4.5.1. feasible
4.5.2. profitable
4.5.3. least negative consequences
4.6. 6. Implementing the plan
4.6.1. Derivative
4.6.1.1. finance plans
4.6.1.2. labour plans
4.6.1.3. promotion plans
4.6.1.4. production plans
4.7. 7. Follow-up action
4.7.1. Review
4.7.2. Revise
5. TYPES
5.1. Single-use Plan:
5.1.1. budgets
5.1.2. programmes
5.1.3. projects.
5.2. Standing Plan
5.2.1. policies
5.2.2. procedures,
5.2.3. methods
5.2.4. rules.
5.3. Neither single use nor standing plans.
5.3.1. objectives
5.3.2. strategies