Shreya srivastava.pptx for mba and bba students

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1. PLANNING Planning can be defined as "thinking in advance what to do, when to do, and by whom to do.It bridges the gap between where we are and where we want to reach.

2. PLANNING PROCESS Here’s the process of planning explained step by step in simple words : SETTING OBJECTIVES- The first step is to decide what the organization wants to achieve. Clear, specific goals are set . DEVELOPING PREMISES- Assumptions about the future (like market trends, policies, availability of resources) are made as the base for planning . IDENTIFYING ALTERNATIVES- Different possible ways or courses of action are identified . EVALUATING ALTERNATIVES- Each alternative is carefully , considering pros, cons, costs, and risks . SELECTING THE BEST ALTERNATIVES- The most suitable and feasible option is chosen . FORMULATING SUPPORT PLAN- Small or secondary plans (like budgets, schedules, policies) are made to support the main plan. IMPLEMENTATION- The plan is put into action with proper communication and guidance . FOLLOW-UP AND REVIEW- Progress is checked regularly to ensure things are going as planned, and changes are made if necessary.

3. IMPORTANCE OF PLANNING Here’s the importance of planning explained in simple terms : PROVIDES DIRECTION- Planning gives a clear sense of what needs to be done and how to do it . REDUCE RISK AND UNCERTANITY- By looking ahead, planning helps managers prepare for future problems and challenges ENSURE PROPER USE OF RESOURCES- It avoids wastage and ensures that money, time, and manpower are used efficiently. HELPS IN ACHIEVING GOAL- With clear objectives and steps, planning makes it easier to reach targets. FACILITATE DECISION MAKING- It provides guidelines for choosing the best option among many alternatives. ENCOURAGES INNOVATION- Planning requires new ideas, creativity, and better ways of doing things . IMPROVES COORDINATION – It links different departments and activities, so everyone works in the same direction.

4. FEATURES OF PLANNING Here are the main features of planning explained simply : PRIMARY FUNCTION OF MANAGEMENT- Planning is the first step of management, because all other functions (organizing, directing, controlling) depend on it . GOAL-ORIENTED- It always focuses on achieving specific objectives or targets . FUTURISTIC- Planning is forward-looking; it deals with future activities and tries to minimize uncertainties . DECISION MAKING- It involves choosing the best alternative from different courses of action. CONTINUOUS PROCESS- Planning is not one-time; it has to be done regularly because situations keep changing . PERVASIVE- It is required at all levels of management (top, middle, and lower ). INTELLECTUAL ACTIVITY- It requires creativity, thinking, analysis, and foresight, not just routine work.

5. LIMITATION OF PLANNING Here are the limitations of planning in simple words: TIME CONSUMING -Planning takes a lot of time for analysis and discussion, which may delay action. COSTLY PROCESS - It requires money, effort, and skilled people, making it an expensive activity. UNCERTAIN ENVIRONMENT- Future is unpredictable, so plans may fail due to sudden changes (like technology, economy, policies ). RIGIDITY- Once plans are made, managers may stick to them even when situations demand change . IGNORES CREATIVITY- Too much focus on rules and procedures may reduce individual initiative and innovation.

6. TYPES OF PLANNING Here are the main three types of planning explained simply : STRATEGIC PLANNING- Long-term planning done by top management to set overall goals, policies, and directions for the organization. Example: Expanding into a new market. TACTICAL(or FUNCTIONAL)PLANNING - Medium-term planning by middle management to implement strategies in specific areas like production, marketing, or finance. Example: Launching a new product line . OPERATIONAL PLANNING- Short-term, day-to-day planning by lower-level managers or supervisors. Example: Scheduling shifts for workers.

7. PLAN-DEFINITION A plan is a detailed proposal or course of action made in advance to achieve a specific goal.

8. TYPES OF PLANS Here are the types of plans in management (different from types of planning ): OBJECTIVES- The end results or targets that an organization wants to achieve . STRATEGY- A broad plan that defines how to achieve long-term objectives, often prepared by top management . POLICY- General guidelines for decision-making, which tell employees how to act in specific situations . PROCEDURE- A step-by-step method of doing routine activities . RULE- A specific statement that tells what must or must not be done . PROGRAMME- A detailed plan that combines objectives, policies, procedures, and resources for a specific project . BUDGET- A numerical plan that shows expected income and expenditure for a period of time.

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