The nature and characteristics of planning may be stated as follows: Planning is an intellectual and rational process. All the steps in the process of planning must be linked and co-ordinated with each other. Planning also requires laying down of policies for the easy realisation of the -objectives of business. After reading this article you will learn about:- 1. Policies provide guidelines to thinking and action, but procedures are definite and specific steps to thinking and action. A vision statement describes the way you envision your business. Production procedure involves manufacturing and assembling of parts; sales procedure relates to advertising, offering quotations, securing and execution of orders; purchase procedure indicates inviting tenders, selecting quotations, placing orders, storing the goods in go-down and supplying them against requisition to different departments and personnel procedure is the recruitment, selection and placement of workers to different jobs. In the course of execution of a plan, certain obstacles may crop up in midway and planning may require revision, alteration or correction. So decision-making has a pervasive influence upon planning and it is a part of the planning process. Strategic planning is essential where there is competition. defining objectives defining metrics determining the sourcing vendor for the software package identifying obstacle and problems. Planning is the synthesis of various forecasts—short-term or long-term, special or otherwise. A control plan is a document describing the critical to quality characteristics, the critical Xs or Ys, of the part or process. Planning is a major and primary function of management. Planning is basically a problem of choosing. Core Values. Some examples of long-term goals could be for a business to strengthen its hold on the local market, increasing profits, or expanding its operations and sales. For example, one alternative may be the most profitable but requires heavy investment; another may be less profitable but also involves less risk. It requires a mental disposition of thinking before’ acting in the light of facts rather than guess. Prohibited Content 3. Copyright 10. 1.. All following elements have been identified as important to supporting school’s level of involvement with law enforcement EXCEPT: A. Answer: A 9. Planning requires scientific thinking and it should spell out in clear terms the definition of the purpose, analyse the problem and make a careful and diligent search for all the facts bearing upon it. It must also achieve better results with the minimum of unexpected happenings. Thus, planning and budgeting are inter-linked. Planning is essentially a process of deciding in advance what is to be done, when and where it is to be done, and how it is to be done, and by whom. Planners must take into account the strategies of the rival organisations, otherwise the planning projection may land them in trouble. Thus, control is exercised in the context of planning action as the standards against which actual results are to be compared are set up through planning. Though major planning function is entrusted to the top management, it is not restricted to the top level only. There may be production procedure, sales procedure, purchase procedure, personnel procedure etc. Then he proceeds to prepare a kind of ‘blueprint’ mapping out the ways of attaining these objectives. Preliminary criteria can be defined in several ways— minimum investment required, matching with the present business of the organisation, control by the government, etc. Ans: Project management is the management of the work to develop and implement an innovation or change in an existing operation. How (and Why) to Foster Employee Satisfaction, How to Answer Interview Questions About Your Career Goals. Default protocols to be followed across projects. Perception of opportunities includes a preliminary look at possible opportunities and the ability to see them clearly and completely, an understanding of why the organisation wants to solve the uncertainties and a vision what it expects to gain. About new facts and figures necessary for planning if there is no need of planning may be incorporated respect... With alternative—normally known as contingency plan— that can help coping up with the situation. Spot and name the important task of planning the establishment of specific by! The direction of an enterprise operates in a big enterprise, various work. Service and/or product Line: in this course there must be linked and co-ordinated each. Special task force is also envisaged actions well in time general manager to the environmental... 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