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 and mission, tactics deal primarily [...]
This article throws light upon the eight steps in strategy formulation in management. The steps are: 1. Setting Basic Objectives 2. Identify Opportunities and Risks 3. Evaluating Alternative Resource 4. Formulating Alternative Strategies 5. Evaluating these Alternatives 6. Establishing Basic Strategy 7. Implementing Strategy 8. Evaluating Strategy. Step # 1. Setting Basic Objectives: The firm initially sets provisional objectives. The [...]
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 an important variable in the [...]