Notes on Essentials Of Ideal Planning In Management Function:

      Planning process helps to determine the future action and its expected result. Planning means deciding in advance what to do, when to do, how to do, and by whom to do. Basically plans are formulated with a view to achieve organizational goals. An ideal plan will be one that enables the management to achieve its goals.

      An ideal plan should have the following essentials:

1.Objectives:

      One of the most important elements of sound planning is objective. Every plan must have feasible objectives both general and specific. General objectives include survival, growth, development etc while specific objective include the goals set for various departments, divisions, groups and individuals.

2. Policies:

       Policies define the limits within which decisions are to be made. Policies are generally framed by top management. However, managers at any level may lay down policies within his limits and authorities. Policies ensure consistent and unified performance and exercise of discretion by managers. Policies may be written or verbal. Policies helps the manager to delegate authority and chalk out the limits for decisions by the. Subordinates.

3. Procedures:

       A procedure prescribes the sequence of steps that must be followed in order to achieve a specific purpose. The essence of procedures is that it is followed in chronological order in a definite way of doing a thing. Procedures are designed to executive policies and achieve objectives.

It is followed in all major functional areas- purchase procedure, material issue procedure, accounting procedure etc.

4. Rules:

       A rule is a guide to action. It tell us whether a definite action will be taken a will not be taken in case of given situation. For eg; customers complaints must be replied within the same day. A rule is a prescribed course of notion a conduct that must be followed.

5. Strategies:

       A strategy matches organisations competence (internal resources and skills) with the opportunities and the risk involved in such a way that organisations resources can be deployed effectively and efficiently overtime.

  1. Most important goal
  2. Most significant policies
  3. Major programmes.

6. Programmes:

       A programme lays down the principle steps for accomplishing a Mission and sets an approximate time for carrying out each step. A programme is made up of objectives, policies, procedures, budget, schedules etc.

7. Projects:

       Simply, a project is a cluster of activities that is relatively separate and clear- int. It is a part of a programme. The essence of project lies in identifying a nice, neat work package, alternatives, activities etc.

8. Budgets:

       A budget is a statement or a plan of expected results expressed in numerical terms such as man-hours, units of production. Machine hours or any other quantitative. Measurable terms it is an important control device as it provides standards against which actual performance may be measured.

9. Forecasts:

       Forecasts are estimates of future events providing parameters to planning. Forecasts do not involve any commitment but is an integral part of planning us planning cant be done without proper forecasting be it economical, political, social etc.