2. Meaning Of Planning
What should be done
How it should be done
Who will be responsible
Where the action is to be taken
Why is it done
3. Planning
Planning is the first step of
management process concerned
with the establishment of
objectives and analysis of present
limitations for attaining such goals.
5. Limitations of Planning
Planning leads to rigidity.
Planning reduces creativity.
Planning is a time-consuming
process.
Planning involves huge costs.
Planning does not guarantee
success.
Planning may not work in a dynamic
environment.
6. Features
Planning focuses on achieving
objectives.
Planning is futuristic.
Planning is pervasive.
Planning involves choice and
decision-making.
Planning is a continuous process.
Planning is a mental exercise.
7. Guidelines for effective
planning:
Involve top management only at key points in the
planning process.
Planning should provide realistic targets & alternatives
ways to achieve them.
Plans should start on a small scale and e expanded only
when the execs have learned the technique & have
become convinced of their usefulness.
8. Steps
Securing and analyzing necessary information.
Establishing planning promises and constraints.
Ascertaining alternative courses of action or
plans.
Selecting the optimum plan.
Determining derivative plans.
9. Types of plans
According to time dimension:
Short term: Upto one year
Medium Term: >1 yr but <5yrs
Long term : >5yrs
11. Goals /objectives
End results to be achieved.
They give direction to activities.
Require creative thinking and
foresight.
12. Strategies and tactics
Strategies are aimed at counteracting
the actions of the opponents.
Tactics are immediate decisions
based on the executive’s judgement
and experience whilst facing an
actual situation.
13. Standards
Measure of level of achievement.
Very helpful in evaluating
deviations from the plan.
14. Budgets
Used as both- planning and control
device.
May be expressed in units of
product, finance etc.
15. Policies
General statements aimed at
guiding thinking whilst making
decisions.
Eg: “promotions should be from within
the company or the existing staff”
16. Procedures
Involves a selection and
establishment of a logical series of
tasks within the framework of
predetermined policies and
objectives.
18. Rules
Rules are related to procedures as
they guide action but there Is no
time sequence involved.
Eg: Procedure for handling mail may
require a rule “all letters received
should be replied to on the same
day”
20. PROCESS:
Setting objective: The first and
foremost step is setting objective.
Developing premises: Planning is
concerned with the future whick is
uncertain.
Identifying alternate course of
action: Once objective are set,
assumption are made.
21. Evaluating alternative courses of action:
The next step is to weight the positive and
negitive sides of each alternative
Selecting an alternative: This is the real
point of decision making the best plan has
to be adoppted
Follow up action: To see whether plans are
being implimented and activities are
performed according to schedule is also
part of the process.
