Author Topic: Types of Plans  (Read 1153 times)

Jewel

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Types of Plans
« on: February 26, 2013, 09:45:19 AM »
Objectives: Objectives are very basic to the organisation and they are defined as ends which the management seeks to achieve by its operations.They serve as a guide for overall business planning.

Strategy: strategy is a comprehensive plan for accomplishing an organisation objectives. This comprehensive plan will include three dimensions,
(a) determining long term objectives,
(b) adopting a particular course of action, and
(c) allocating resources necessary to achieve the objective.

Policy: They are guides to managerial action and decisions in the implementation of strategy.

Procedure: Procedures are routine steps on how to carry out activities. Procedures are specified steps to be followed in particular circumstances.

Method: Methods provide the prescribed ways or manner in which a task has to be performed considering the objective. It deals with a task comprising one step of a procedure and specifies how this step is to be performed.

Rule: Rules are specific statements that inform what is to be done. They do not allow for any flexibility or discretion.

Programme: Programmes are detailed statements about a project which outlines the objectives, policies, procedures, rules, tasks, human and physical resources required and the budget to implement any course of action.

Budget: It is a plan which quantifies future facts and figures. It is a fundamental planning instrument in many organisations.