Course Content
OVERVIEW OF MANAGEMENT
Definition and importance of management Functions of management Managerial roles Evolution of management thought Types of management environment
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PLANNING FUNCTION
Meaning and importance of planning Principles of planning Purpose of planning Types of plans Planning tools Process of planning Planning challenges Making plans effective Management by objectives
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ORGANIZING FUNCTION
Meaning and Importance of Organizing Structure and Designs of Organizations Principles of Organizing Process of Organizing Delegation Coordination Centralization and Decentralization Informal Organizations
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STAFFING FUNCTION
Meaning and Importance of Staffing Human Resource Planning Recruitment and Selection Training and Development Performance Management Reward Management Separation
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DIRECTING FUNCTION
Meaning and Importance of Directing Leadership Motivation Communication Group Dynamics Conflict Management
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CONTROLLING FUNCTION
Meaning and Importance of Controlling Elements of Control Characteristics of Effective Controls Control Process Role of Control in an Organization Tools of Controlling
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STRATEGIC MANAGEMENT
Overview of Strategic Management SWOT Analysis Strategy Formulation Strategy Implementation Strategy Evaluation
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EMERGING ISSUES AND TRENDS
Organization Culture Ethics and Social Responsibility Managing Innovation and Change Diversity and Inclusion Corporate Governance Globalization
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Principles and Practices of Management
About Lesson

Time, nature, and the use of plans can all be used to classify planning.

Based on Time

  1. Long-Time Planning: Long-term planning usually includes a period of more than five years, although it might go up to twenty years. Long-term plans are created after a thorough examination of the company’s environment. Such plans may necessitate changes in the structure and activities of the organization. Top management is primarily responsible for long-term planning.
  2. Short Term Planning: Short-term planning is the process of deciding on courses of action for periods of one to three years. Plans that last longer than a year are sometimes referred to as medium-term plans. The structure of short-term planning is set, and specific activities to attain goals are defined.

Based on Nature

There are various sorts of planning depending on the nature or amount of planning:

  1. Strategic Planning: Strategic planning is the process of developing a cohesive, comprehensive, and integrated strategy that links the firm’s strategic advantages to environmental concerns. It entails assessing the external environment with respect to the business and determining the tactics that will be used in the future to attain the goals.
  2. Tactical Planning: Strategic planning is aided by tactical planning. It outlines the techniques that the business intends to employ in order to attain the goals outlined in the strategic plan. The scope is usually less than a year and divides the strategic plan into manageable portions. Tactical planning differs from operational planning in that tactical plans ask precise questions about what has to happen to achieve a strategic goal. In contrast, operational plans inquire about how the organization would generally carry out its purpose.
  3. Operational Planning: This form of planning usually refers to the company’s day-to-day operations. Operational plans are frequently referred to as one-time or continuing plans. Single-use plans are designed for events and activities that occur only once (such as a single marketing campaign). Policies for dealing with difficulties, rules for specific regulations, and procedures for a step-by-step process for achieving specified goals are all part of ongoing planning.
  4. Contingency Planning: In situations where a change is required, contingency planning might be beneficial. Although managers should expect changes when engaging in any of the basic types of planning, contingency planning is necessary when unexpected changes occur. Contingency planning becomes more vital to engage in and comprehend as the business world becomes more sophisticated.

Basis of usage

  1. Standing or Multi-use Planning: The recurrent plans, also known as standing or multi-use plans, are used repeatedly in similar scenarios. A standing plan is a roadmap that is used repeatedly to solve reoccurring difficulties.
  2. Single-use or Ad-hoc planning: A single-use plan is only utilized once and then thrown away. It is created to satisfy the needs of a given situation and then discarded after that situation has passed. Single-use plans include things like a program, budget, timetable, and project.
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