Planning involves selecting objectives, missions, and courses of action to achieve them. It requires decision making by choosing between alternative options for the future. Objectives and missions identify the functions and tasks of an organization, while strategies are grand plans to achieve comprehensive goals. Policies guide decision making, procedures detail activities, and rules disallow discretion. Budgets quantify plans numerically. Programs combine necessary elements like goals, tasks, and resources to implement plans. Premises are assumptions about the future environment plans will operate within. Forecasting predicts future conditions to guide the organization. Decision making is selecting between alternatives to best fulfill objectives.

2. Planning involves selecting missions and objectives and the
actions to achieve them; it requires decision making, that is,
choosing from among alternative future courses of action.
The cognitive process of thinking about what you will do in
the event of something happening
An act of formulating a program for a definite course of
action

3. Purposes or Missions –
Identifies the basic function or task of an enterprises or
agency or any part of it. The purpose of business generally
is the production and distribution of goods and services

4. Objectives or goals –
The ends towards which activity is aimed, they are the
results to be achieved. They represent not only the end point
of planning but the end toward which Organizing, staffing,
leading and controlling are aimed

5. Strategies –
Strategies are grand plan. The most common usage of the
term are –general programs of action and deployment of
resources to attain comprehensive objectives. The
determination of the basic long term objectives of an
enterprises and the adoption of courses of action and
allocation of resources necessary to achieve these goals.

6. Policies –
General statements or undertakings which guide or channel
thinking in decision making. Not all policies are
“Statements”, they are often merely implied from the
actions of managers.

7. Procedures –
Plans that require method of handling future activities.
They are guides to action, rather than to thinking, and they
detail the exact manner in which certain activities must be
accomplished. They are chronological sequences of
required actions

8. Rules –
Spell out specific actions or non actions, allowing no
discretion

9. Budgets –
A statement of expected results expressed in numerical terms. Referred
as “numberized” program. The financial operating budget is often called
a “profit plan

10. Programs –
A complex of goals, policies, procedures, rules, tasks
assignments, steps to be taken, resources to be employed
and other elements necessary to carry out a given course of
action; they are ordinarily supported by budgets.

11. Being aware of opportunities
Establishing objectives or goals
Developing premises
Determining alternative courses
Evaluating alternative courses
Selecting a course
Formulating derivative plans
Quantifying plans by budgeting

12. Objectives are the important ends toward
organizational and individual activities are directed.
which

15. “ MBO is a comprehensive managerial system that integrates
many key managerial activities in a systematic manner and that
is consciously directed towards the effective and efficient
achievement of Organization and individual Objectives.”
-Where superiors and subordinates jointly identify the goals of
the Organization

16. Process of MBO
1.Setting preliminary Objectives
2.Clarifying Organizational roles
3.Setting subordinates Objectives
4. Recycling Objective
How to set Objectives
1.Quantitative & Qualitative
2.Setting Objectives in Govt
3.Guidelines for setting Objective

17. “Planning premises are the anticipated environment in which plans
are expected to operate. They include assumptions or forecast of
the future and known conditions that will affect the operations of
plans.”

18. -A plan is based on certain assumptions called premises
-Assumptions or premises are for a future setting or
happenings
-Assumptions based upon certain intuition or scientific
forecasting
-The assumptions about future derived from forecasting and
used in Planning are known as planning premise

19. 1.External & Internal External
2. Tangible and Intangible premises
3.Controllable and Uncontrollable Factors

20. Process of predicting future conditions, that will influence
and guide the activities, behavior and performance of the
Organization.
“ Forecasting is the formal process of predicting future
events that will significantly affect the functioning of the
enterprises.”

21. Developing the ground work
Estimating the future trends
Comparing actual with estimated results
Refining the forecast

22. -Qualitative
-Quantitative
1.Time series Analysis
2.Historical Analogy
3.Correlation
4.Regression
5.Delphi Technique
6.Input output analysis

23. BCG Matrix.

24. TOWS Matrix.

25. the process of choosing a course of action from
available alternatives
“ Decision making is a process of selection from a
set of alternative courses of action which is
thought to fulfills the objective of the decision –
problem more satisfactorily than others.”

26. Types of Managerial Decisions
1.Organizational and Personal Decisions
2.Routine and Strategic Decisions
3.Programmed and Non programmed Decision
4.Policy and Operating Decision
5.Individual and Group decision

27. Decision making Process
1.Defining the problem
2.Analysing the problem
3.Developing alternative solutions
4.Evaluating the Alternatives
5.Selecting the best alternatives
6.Implementing the decision