NTA-NET (UGC-NET) Commerce (08) Business Management-Planning Study Material (Page 5 of 12)

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Planning Process: Formulating of Essential Subsidiary Plans, Determination of Time and Sequence of Activities, Securing Cooperation in Execution, Principle of Alternatives, Limiting Factors, Competitive Strategies, Cooperation, Continuity, Communication, Evaluations, Simplicity

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Planning Process

Formulating of Essential Subsidiary Plans

  • Various subsidiary or sub- plans are required to be formulated, after formulation of a basic master plan, so that it may be properly implemented. These are not completely independent plans but are the constituents of the basic plan. In this regard, Koont ‘z and O’ Donnell have stated, “Subsidiary or sub- programs are most essential to develop new policies and courses of actions for effective implementation of any plan” .
  • The basic plan for fulfillment of the determined goals of the organi…

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Scope of Planning or Components or Elements of Planning: Objective or Goals, General or Common Objectives, Specific Objectives

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Scope of Planning or Components or Elements of Planning

The fulfillment of the objectives of any organization depends upon planning and all those factors or elements are included in planning, on whose basis, implementation of future activities of the organization is possible.

The scholars like Koont ‘z and O’ Donnell, Theo Haimann and George R. Terry have included the following in the factors or elements of planning.

  • Objectives or Goals
  • Policies
  • Procedures
  • Rules
  • Programs
  • Strategy
  • Methods
  • Budget
  • Time schedule
  • Standard
  • Forecasting
  • Project

These factors are explained as follows:

Objective or Goal…

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