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 [...]
This article throws light upon the nine main steps involved in planning process of an organisation. The steps are: 1. Need for Planning 2. Identification of Goals 3. Analysis of Present Situation 4. Identify Barriers to Planning 5. Develop Planning Premises 6. Develop Alternative Courses of Action 7. Evaluate Courses of Action 8. Select a Course of Action 9. Feedback. [...]