Lecture notes on Planning for Management student and commerce

2. Planning is deciding in advance ,what to do,
How to do it, When to do it, Who is to do it,
Where it is to be done, What resources are
required to do it.

3. “Planning is an intellectual process, the
conscious determination of the course of action
and the taking of decisions on Purpose,
knowledge and considered estimates.”

4. Intellectual , Selective, Continuous &Flexible
Primary function of management
Pervades all management activities
Contributes to purpose and objectives
Function of all manager

5. Efficiency
Motivation
Control
Co-ordination
Decision Making
Offsets Future Uncertainity
Ensures Against Failures &Setbacks

6. Being Aware of opportunities
Determination of objectives
Establishment of planning premises.
Identification of alternatives
Comparison of alternatives in the light of objectives
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7. Selection of An Alternative
Formulating of Supporting plans
Timing and Sequencing of Operations
Numberization of Plans by Preparing Budgets
Securing Participation of Employees

8. Mission
Objectives
Strategies
Policies
Procedures
Rules
Programmes
Budgets

9. Break Even Analysis
Marginal Contribution Analysis
Variance Analysis
Sales Forecasting
Capital Budgeting
Fund Flow Analysis
Ratio Analysis
Operations Research

10. Lack of Reliable Data
Expensive
Time Consuming
Stifles Initiative
Resistance to Change
Difficulty of Accurate Premising
Past Decisions.

11. Based on Specific &Realistic Objectives
Consideration of Premises
Specific Course of Action for Achievement be Outlined.
Easy to Understand
Feasible
Time Bound
Specify the Resources Required
Involve Subordinates
Designates People Responsible For executive
Non Conflicting
Flexible

12. Lack of commitment to planning
Lack of proper Skill &Ability to develop of
Policies,Programme, Procedure, Rule ,Strategy
Underestimation of importance of premises
Excessive reliance on Experience
Lack of Clear Delegation
Lack of Proper Information
Lack of Adequate Control
Resistance to Change