1. PLANNING A detailed method, formulated beforehand, for managing all or part of a business.
2. Objectives Mission, purpose, or standard that can be reasonably achieved within the expected timeframe and with the available resources Objectives are the most basic planning tools underlying all planning and strategic activities. They serve as the basis for policy and performance appraisals, and act as glue that binds the entire organization together.
11. Types of plans Based on nature of planning Strategic planning Tactical planning Based on use of plans Single use plan Standing plan
12. Difference between Strategic planning and Tactical planning Strategic planning Tactical planning It is long term Done at top management It consists of major goals and policies of organization, resources and facilities to accomplish them It is less detailed, focuses on long term goal It is more uncertain It is short term Done at lower levels of management It consists of use of facilities and resources It is more detailed and day to day activities It is less uncertain
13. What is single use plan? Single use plan are developed to achieve a specific end. After reaching that target the plan becomes useless.
15. Difference between policy and procedure policy procedure General guidelines of the organization Top level activity Policies fulfill the objectives of an organization Policies are often made without any analysis General guidelines at the action level Departmental activity Procedure guides the way to implement the policies Procedures are always made after through study analysis of work
