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Planning Process (With Diagram) : 5 Steps | Management

This article throws light upon the top five steps involved in the process of planning in an organisation. The steps are: 1. Establishing Goals (or Setting Objectives) 2. Determining where the Organisation or Subunit Stands Relative to the Goal 3. Developing Planning Premises 4. Choosing from Alternatives 5. Developing Methods to Control the Op­eration of […]

Planning Benefits: 5 Key Benefits of Planning | Management

This article throws light upon the five key benefits of planning in an organisation. The benefits are: 1. Planning is related to performance 2. Plans focus attention on objectives 3. Plans help eliminate uncertainties and anticipate problems 4. Plans provide guidelines for decision making 5. Plans are necessary to facilitate control. Benefit # 1. Planning […]

Action Plans: Top 3 Types | Management

This article throws light upon the three main types of action plans in an organisation. The types are: 1. Tactical Plans 2. Single-Use Plans 3. Standing Plans. Type # 1. Tactical Plans: Tactical plans are an organised sequence of steps designed to execute strategic plans and achieve strategic goals. While strategy focusses on resources, environment […]

Evaluating the Effectiveness of Planning | Management

This article throws light upon the six main criteria’s for evaluating the effectiveness of planning in an organisation. The criteria’s are: 1. Usefulness 2. Accuracy and Objectivity 3. Scope 4. Cost-Effectiveness 5. Accountability 6. Timeliness. Criteria # 1. Usefulness: To be most useful to management in performing its other functions, a plan has to be […]

Overcoming the Barriers to Planning | Management

This article throws light upon the eleven ways for overcoming the barriers to planning in an organisation. The ways are: 1. Starting at the Top 2. Recognising the Limits to Planning 3. Communication 4. Participation 5. Revision and Updating 6. Contingency Planning 7. Discussion 8. Training 9. Explanation of Planning Objectives 10. Creation of a […]

Strategic Planning Process: 4 Key Benefits | Management

This article throws light upon the four key benefits of strategic planning process in an organisation. The benefits are: 1. Reaction to Environment 2. Defining Company Mission 3. Formulation of Long Range Objectives 4. The Specification of Programme Policies and Strategies. Benefit # 1. Reaction to Environment: The strategic planning process is invaluable to a […]

Classification of Plans: 3 Categories | Management

This article throws light upon the three categories under which plans are classified in an organisation. The categories are: 1. The Time Dimension in Planning 2. The Use Dimension in Planning 3. The Scope or Breadth Dimension in Planning. Category # 1. Time Dimension in Planning: a. The Time Dimension in Planning: Time enters as […]

10 Important Features of a Sound Plan

This article throws light upon the ten important features of a sound plan. The features are: 1. Integration 2. Market Research 3. Economy/Financial Constraints 4. Co-Ordination 5. Consistent 6. Flexible 7. Acceptable 8. Participative 9. Based on Planning Premises 10. Effective Communication System. Feature # 1. Integration: A good plan should integrate the short-term requirements […]

Types of Forecasting in Management That Are Related to External Environment

This article throws light upon the four main types of forecasting that are related to external environment. The types are: 1. Economic Forecasting 2. Technological Forecasting 3. Forecasts Regarding Government Policies 4. Sales Forecasting. Type # 1. Economic Forecasting: It is done to forecast the general economic conditions, like boom or depression, upswing or downswing […]

Forecasting: Meaning, Approaches and Techniques | Organisation

After reading this article you will learn about:- 1. Meaning of Forecasting 2. Approaches to Forecasting 3. Benefits 4. Measures to Increase the Effectiveness 5. Process 6. Techniques. Contents: Meaning of Forecasting in an Organisation Approaches to Forecasting in an Organisation Benefits of Forecasting in an Organisation Measures to Increase the Effectiveness of Forecasting in […]

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