After reading this article you will learn about:- 1. Meaning of Planning Premises 2. Process of Planning Premises 3. Types. Meaning of Planning Premises: The process of planning is based upon estimates of future. Though past guides the plans in present, plans are made to achieve the goals in future. Therefore, forecast of future events leads to efficient plans. Since [...]
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 of the firm with its [...]
After reading this article you will learn about:- 1. Meaning of Planning 2. Features of Planning 3. Importance 4. Principles 5. Limitations 6. Barriers. Meaning of Planning: Planning deals with framing organisational objectives and devising ways to achieve them. Managers plan business activities at all levels: top, middle and low, though planning is required more at top levels than lower [...]