BST CH4 Planning

Question 1

What is planning?

Answer 1

Thinking in advance, when it is to be done, how it is to be done, where it to be done, by whom it is to be done etc.., in simple words, Planning bridges the gap between where we are standing today and where we want to reach

Question 2

Planning process

Very Important

Answer 2

S DIES IF

1. Setting objectives
2. Devloping premises Future assumptions
3. Identifying Alternative courses of Action
4. Evalueating Alternative courses of Actions
5. Selecting the best alternative
6. Implementing the plan
7. Follow up action

Question 3

Features of Planning

Answer 3

1. Focuses on achieving objectives
2. Planning is futuristic
3. Planning involves descion making
4. It is a mental excercise
5. It is the primary function of management
6. It is pervasive Needed by all
7. Continous

Question 4

Importance of Planning

Answer 4

1. Provides direction
2. Reduces the risk of uncertanities
3. Reduces overlapping and wasteful activities
4. Promotes innovatibe ideas
5. Facilitates descion making
6. Establishes standards for controlling

Question 5

Limitations of planning

Answer 5

1. Does not guarentee success
2. Time consuming process
3. Involves Huge costs
4. Reduces creativity Planning is done by higher-ups, leaving down creativity of lower levels
5. May not work in advance
6. Planning leads to rigidity May not be able to change plans

Question 6

T

Types of plans

Answer 6

1. Single-use plan Budgets, programmes, projects etc.
2. Standing Plan Occur regularly, eg policies, procedures

Question 7

TYPES OF PLANS

Case studies, sub-parts of Single use and Standing

VVIP

Answer 7

PPP RHOMBUS

ObjectiveTarget- 1. Set up by the top level
2. Needs to be expressed in specific terms
3. Specify what org wants to achieve

STRATEGY - Its a comprehensive plan Competition, plan
1. Determining long-term objectives
2. Adopting a particular course of action

POLICY RECURRING PROBLEM
General guidelines that guides thinking or channelized energy towards a particular direction.

PROCEDURE Step-by-step
Sequence of routine steps performed in a chornological order to carry out activites

RULE right wrong
Statement that specifies what is to be done or not be done.

Method way of doing
It the is prescribed way or manner in which a task has to be performed.

BUDGET Numerical statement
It is a quanitiative statement.
Statement of expected results for a given future period expreseed in numerical terms.

PROGRAMME Has everything
It is a detailed statement about a project which outlines the objectives, policies, procedures, rules, resources required.

Bolded words are key points for identification in case study