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PLANNING - Coggle Diagram
PLANNING
FEATURES
It is the primary function of management
It is pervasive
It focuses on achieving objectives
It is continuous
It is futuristic
It involves decision making
It is a mental exercise
PROCESS
Evaluating alternative courses of action
Selecting the best course of action
Identifying alternative course of action
Implementation of the plan
Developing premises
Follow up
Setting objectives
TYPES OF PLANS
Strategies
Policies
Objectives
Methods
Procedures
Rules
Budget
IMPORTANCE
It reduces overlapping and wasteful activities
It reduces the risk of uncertainty
It promotes innovative ideas
It facilitates decision making
It provides direction
It establishes standard for decision making
LIMITATIONS
It reduces creativity
It involves huge cost
It may not work in dynamic environment
It is a time consuming process
It leads to rigidity
It does not guarantee success
TYPES OF PLANS
Standing Plan-used for operations that occur regularly
Single use plan-made for a particular period or specific purpose
It is deciding in advance what to do, how to do and who is to do it. Planning bridges gap between where we are and where we want to go.