Planning Definition and Nature PDF

If you fail to plan, you plan to fail. PLANNING At the end of the lesson, the learners should be able to: Discuss the nature of planning (U) Compare and contrast the different types of plans (K) Definition and nature of planning Documents that outline how goals are going to be met...

If you fail to plan, you plan to fail. PLANNING At the end of the lesson, the learners should be able to: Discuss the nature of planning (U) Compare and contrast the different types of plans (K) Definition and nature of planning Documents that outline how goals are going to be met. Planning Is the process of deciding in advance what is to be done, who is to do it, how it is to be done and when is to be done. -Killen Planning Is anticipating. -Earl Strong Planning Management function that involves setting goals establishing strategies for achieving those goals and developing plans to integrate and coordinate work activities. Why Planning is important? 1. Planning provides direction to managers and non-managers a like. 2. Planning reduces uncertainty 3. Planning minimizes waste and redundancy 4. Planning establishes the goals or standards. Advantages of planning  - Planning focuses on objectives to avoid committing resources to unprofitable actions  - It helps managers develop confidence and make decisions with some degree of certainty - Planning minimizes waste by isolating and eliminating unwanted activities - It ensures control through measurement and feedback to avoid unnecessary use of resources  DISADVANTAGES OF PLANNING Quality data and Planning can Planning can accurate be expensive delay action assumptions are in terms of until the plan crucial for effective time and is completed planning money  Types of Plan  I. Long Term Plans a. More than 3 years b. Formulated by Top Level Managers II. Medium Term Plan a. In between 1-3 years 1. ON THE b. Formulated by Middle Level Managers BASIS OF III. Short Term Plans a. Less than a year (half yearly, TIME monthly, quarterly etc.) b. Formulated by Low Level Managers 2. ON THE I. Top Level Plans: a. Directors, General Managers BASIS OF b. Objective, policies, budget etc. c. Mostly Long-Term Plans MANAGERIAL II. Middle Level Plans: LEVELS a. Department Managers (financial, purchase, production, personnel etc.) b. Mostly Medium-Term Plans III. Lower-Level Plans: a. Foreman or Supervisor b. Short Term Plans  I. Corporate Level Plans: a. Prepared for whole organization (long term) II. Department Level Plans: a. Prepared by various department b. To tackle immediate or near future problems. III. Special or Single Use Plans: Formulated for one time use or to tackle the 3. ON THE special situation. Like, Programme BASIS OF Budget BROADNESS Projects Schedules Activity Triple Venn Diagram Compare the different types of plans.