PACTICES & PRINCIPLES OF MANAGEMENT

PLANNING

FEATURES OF PLANNING
Planning is

goal oriented. Planning is primary function in management. Planning is pervasive. Planning is flexible. Planning is continuous. Planning is futuristic. Planning involves choice.

OBJECTIVES OF PLANNING
Reduce

uncertainty. Bring Co-operation and Co-ordination. Economy in operation. Achieving the pre-determined goals. Reduce competition.

FORECASTING VS PLANNING

LEVELS OF PLANNING

Top Management Top management is

concerned with strategic plans.

Middle Management Middle management

concerned with administrative or tactical planning that supports the strategic planning.

Lower Management Lower management is

directly concerned with operational planning.

TYPE OF PLANS
Philoso phy Purpose

Objectives
Strategies

Policies
Procedures

Rules

Programmes

Budgets

STEPS IN PLANNING

ADVANTAGES OF PLANNING
Better

utilization of resources. Helps in achieving objectives. Minimizes future uncertainties. Improves competitive strength. Effective control. Motivation. Co-operation. Reduction of risk.

LIMITATIONS OF PLANNING
Unreliability

of forecasts. Time consuming. High cost. Too much focus on future.

THANK YOU