functions of Management – Planning

Functions of Management:-

Planning

Organizing

Staffing

Direction

Coordination and control

Decision making

OUTPUT

Attainment goals effectively & efficiently

 

 

 

INPUTS/RESOURCES

Human

Finance

 

CONTROLLING

Measuring performance with standards & taking corrective actions

PLANNING

Setting of objects & selecting ways

ORGANIZING

Establishing relationships,

Delagting authority & assign tasks

DIRECTING

Leading & motivating employees to attain objectives

 

FUNCTIONS OF MANAGEMENT

 

PLANNING

Planning is a process of determination of organization’s objectives and selecting the courses of actions. i.e. Plans for attaining them.

Planning is the primary or basic management function.

 

Planning Process

Environmental scanning
Setting Objectives
Establishing Planning Premises
Searching alternatives
Evaluating alternatives
Selecting the most appropriate alternative
Formulating derivative plans
Budgeting i.e. Committing Resources
Implementing Plans
Follow – up actions


Types/Dimensions of Planning

 

  • Corporate Planning : Business product line

 

  • Long term Planning : > 5years

 

  • Short term Planning : 1 year

 

  • Medium term Planning : 2-5 years

 

  • Strategic planning : Long term, corporate planning for dealing with the organization Competitive environment.

 

  • Operational or Tactical Planning : Plans that specified detail operations needed to achieve The overall organizational goals. (Short range planning)

(Administrative Plans)

 

  • Functional Planning : Production, Marketing, Personnel, Finance.

 

 

Components/Elements of Planning

 

Objectives :    The basic tools that underline all planning and strategic activities.

 

Strategy:         The Long term action plan to attain objectives.

 

Policies:           These are general statements or understanding that guide or channel thinking in decision making.

 

Procedure:      A Chronological Sequence of steps or actions to be taken to accomplish a  Specific task or job.

 

Method:          It is a prescribed way of completing a step in a procedure.

 

Rules:            Specific recored statements that direct what must or must not be done in a Given situation.

 

Standards:      It is a measure against whuch the level of performance is measured or  Evaluated.

 

Programmes: An action plan consisting sequence and timing of steps necessary to achieve Objectives.

 

Schedules:        A plan which indicates the time of commencement of task, passing through Different stages or process and finalising the task.

 

Budgets:        Numerical Plan containing expected result in quantative way.

 

Project:          It is smaller action plan and a distinct part of a programme.

Tactics:          Short term action plan for implementing strategy.

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