Planning

Question 1

Define planning

Answer 1

Planning can be defined as setting objectives for given time period, formulating various courses of action to achieve them and then selecting the best possible alternative from among the various courses of action avaliable

Question 2

Features of planning

Answer 2

1. It focuses on achieving objective
2. It is a mental exercise
3. It involves decision making
4. It is futuristic
5. It is Continuous
6. It is all pervasive
7. It is a primary function of management

Question 3

Importance of planning

Answer 3

1. Planning provides direction
2. Planning reduces overlapping and wasteful activities
3. Planning reduces risk of uncertainty
4. It promotes innovative ideas
5. It facilitates decision making
6. It establishes standards for controlling

Question 4

Limitations of planning

Answer 4

1. It leads to rigidity
2. It reduces creativity
3. It may not work in a dynamic environment
4. It involves huge costs.
5. It is a time consuming process
6. It does not guarantee success

Question 5

Planning process

Answer 5

1. Setting objectives
2. Developing premises
3. Identifying alternative courses of action
4. Evaluating alternative courses of action
5. Selecting an alternative course of action
6. Implementing the plan
7. Follow up action

Question 6

Types of plans

Answer 6

Single use plans - one time event not likely to be repeated in the future
Standing plans - it is used for activities that occur regularly over w period of time. It is usually developed once but is modified from time to time

Question 7

Different types of plans

Answer 7

1. Objective ( general plan)
2. Strategy (general plan)
3. Policy (standing plans)
4. Procedure (standing plans)
5. Method (standing plans)
6. Rule (standing plans)
7. Programme (single use plans)
8. Budget (single use plans)