PLANNING

Question 1

TYPES OF PLAN

Answer 1

1.PROGRAMMES
2. BUDGETS
3.RULES
4. METHODS
5. PROCEDURES
6.POLICIES
7. STRATEGY
8. OBJECTIVES

Question 2

PROGRAMMES

Answer 2

A programme is a comprehensive plan designed to implement the policies and accomplish the objectives

Question 3

TYPES OF PROGRAMME

Answer 3

MAJOR PROGRAMME
It is a basic plan. eg. - Programme to eradicate poverty, programme to reduce unemployment etc
MINOR PROGRAMME
A derivative programme designed to implement major problem

Question 4

FEATURES OF A PROGRAMMES

Answer 4

1.single - use
2. objectives and policies
3. action plan
4. smooth and efficient

Question 5

BUDGET

Answer 5

A budget is a plan that states the expected results of a given future period in numerical terms.
It is a plan of action or blueprint designed to achieve specific goals.
It may be expressed in time, money or physical units

Question 6

FEATURES OF BUDGET

Answer 6

1 quantitative terms
2 future oriented
3 time period
4 types

Question 7

RULES

Answer 7

Rules are specific statements of what should or what should not be done in a specific situation.
Rules are helpful in maintaining discipline.
A rule may or may not be a part of a procedure

Question 8

FEATURES OF RULES

Answer 8

1. Specific Statements
2. Discipline
3. Applicable

Question 9

METHODS

Answer 9

Methods are formalized and standardized ways of accomplishing repetitive or routine jobs.
Example: there are various methods for charging depreciation on fixed assets such as straight line method, diminishing method etc. A business firm can select any of these methods
Standardized method represent the best way of performing jobs
A method prescribes the manner of performing tasks

Question 10

FEATURES OF METHODS

Answer 10

1. Instruction and Guidance
2. Uniformity
3. Standardize Method
4. Overall Guidance

Question 11

PROCEDURES

Answer 11

A procedure describes the exact manner in which a certain activity is to be performed.
It is a chronological sequence of steps to be taken.
It spells out series of steps arranged in some predetermined best order
Procedures are guide to actions.

Question 12

FEATURES OF PROCEDURES

Answer 12

1. Chronological Order
2. Sequence
3. Design
4. Facts

Question 13

OBJECTIVES

Answer 13

Every organization is established to achieve some purpose which is called Objectives
The process of planning begins with setting of objectives
Objectives may be defined as purposes or aims which an organization wants to achieve over different time periods.

Question 14

FEATURES OF OBJECTIVES

Answer 14

1. time bound
2. clear and specific
3. measurable
4. flexible
5. results

Question 15

STANDING AND SLEEPING PLANS

Answer 15

STANDING PLANS OR REPEAT USE OF PLANS
Some plans are used repeatedly in similar situations
eg. policies, procedures, objectives and rules

SLEEPING PLANS OR SINGLE USE PLANS
Other type of plans are called single used pans because after every use this plans need to be reformulated.
eg. programmes, budgets, etc

Question 16

STRATEGY

Answer 16

Strategy means a comprehensive and integrated plan which indicates the desired future of the organization.
It is a blueprint of the organization’s desired destination, direction and image.

Question 17

FEATURES OF STRATEGY

Answer 17

1 long term and short term
2 flexible and dynamic
3 swot
4 formulated
5 full utilization of resources

Question 18

POLICIES

Answer 18

A policy is a general statement that guides decision making
Policy defines boundary within which decision can be made and the direct decision towards the accomplishment of the objectives
Example : A policy of offering equal job opportunities to minorities and women contributes the objective of meeting social obligation

Question 19

FEATURES OF POLICIES

Answer 19

1 Standing plan
2 guidelines
3 guide
4 all levels
5 decision and behaviour

Question 20

STEPS IN PROCESS OF PLANNING

Answer 20

1 Setting Objectives
2 Developing Planning Premises
3 Identifying Alternative Course of Action
4 Evaluating Alternatives and Choosing the Best Alternative
5 Formulating Derivative Plans
6 Securing Cooperation
7 Follow up Action

Question 21

IN THE 2ND STEP OF PLANNING (DEVELOPING THE PLANNING PREMISES) STATE THE KINDS

Answer 21

1 Tangible and Intangible Premise
2 Internal and External Premise
3 Controllable and Uncontrollable Premise

Question 22

LIMITATION OF PLANNING

Answer 22

1. Costly Process
2. Time Consuming
   3.Lack of Accuracy
3. False Sense of Security
4. Human Element

Question 23

IMPORTANCE OF PLANNING

Answer 23

1. Bridges Gap between Present and Future
2. Facilitates decision Making
3. Provides Basis of Control
   4.Focuses Attention on Objectives
   5.Brings Order in Place of Chaos

Question 24

PLANNING

Answer 24

A process of deciding in advance the objectives to be achieved in a given time period,formulating alternative course of action to achieve them and selecting the best course of action.