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    Chapter 7 Components of PLan

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    Maiyakabeta
    This document discusses the main components of a plan, which include objectives, policies, rules, procedures, schedules, strategies, budgets, projects, and programs. Objectives define the expected results to be achieved within a time period. Policies provide general guidelines for subordinates to follow. Procedures establish methods for carrying out activities. Rules are more specific guidelines that must be followed without deviation. Strategies are long-term plans for survival and growth. Budgets show estimated financial results. Schedules specify the timing of work. Programs integrate all plan components to achieve objectives.

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    Chapter 7 Components of PLan

    Uploaded by

    Maiyakabeta
    130 views12 pages
    This document discusses the main components of a plan, which include objectives, policies, rules, procedures, schedules, strategies, budgets, projects, and programs. Objectives define the expected results to be achieved within a time period. Policies provide general guidelines for subordinates to follow. Procedures establish methods for carrying out activities. Rules are more specific guidelines that must be followed without deviation. Strategies are long-term plans for survival and growth. Budgets show estimated financial results. Schedules specify the timing of work. Programs integrate all plan components to achieve objectives.

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    This document discusses the main components of a plan, which include objectives, policies, rules, procedures, schedules, strategies, budgets, projects, and programs. Objectives define the expected results to be achieved within a time period. Policies provide general guidelines for subordinates to follow. Procedures establish methods for carrying out activities. Rules are more specific guidelines that must be followed without deviation. Strategies are long-term plans for survival and growth. Budgets show estimated financial results. Schedules specify the timing of work. Programs integrate all plan components to achieve objectives.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    130 views12 pages

    Chapter 7 Components of PLan

    Uploaded by

    Maiyakabeta
    This document discusses the main components of a plan, which include objectives, policies, rules, procedures, schedules, strategies, budgets, projects, and programs. Objectives define the expected results to be achieved within a time period. Policies provide general guidelines for subordinates to follow. Procedures establish methods for carrying out activities. Rules are more specific guidelines that must be followed without deviation. Strategies are long-term plans for survival and growth. Budgets show estimated financial results. Schedules specify the timing of work. Programs integrate all plan components to achieve objectives.

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    Chapter 7 : Components of Plan

    Introduction to Components of Plan

    Types of plan are also referred to as elements, parts, or components of plan. Each component is an individual plan. All components constitute the broad plan. Multi-use-plans: Objectives, strategies, policies, rules, and procedures are multi-use plans. Single-use plans: Programmes, budgets, schedules, projects, methods, etc., are single-use plans.

    Main Components of Plan

    Objective Policy Rule Procedure Schedule

    Strategy Budget Project Programme

    Objective

    Objective is the end expected result to be achieved within the definite time period. It is always expressed in relation to time. Objective relates to why aspect of planning. Other terms closely related to objective are mission, purpose, goal, and target.

    Policy

    Policy is also a plan. Policy is a general guideline that subordinates have to follow while working and responding.

    Policy relates to how aspect of planning.


    Policy allows discretion as different people may interpret a particular policy differently.

    Each organisation has its policies on several areas

    Procedure

    Procedure is a multi-use plan that establishes methods for carrying out future activities. It specifies the way or manner to perform work in relation to time. Procedure is related to how and when aspects of planning process. It is operational guideline. Methods are part of procedure.

    Rule

    Rule a multi-use plan. guideline.

    It is prescribed or specific

    Rules are more specific (definite) and rigid. Rule allows no difference, deviation, or desecration.
    Rules involves element of authority. They are aimed at maintaining regularity, discipline, and order.

    Strategy

    Strategy is a military term. It is also frequently used in business, sports, and games.

    Strategy is a long-term plan that determines survival and growth of any business concern. It is a multi-use plan.
    Strategy is concerned with taking actions against opposite army (in business, against competitors). Strategy is a longterm plan that determines survival and growth of any business concern.
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    Budget

    Budget is a plan or statement showing expected or estimated results for the definite future period expressed in numerical terms. Budget is an ad hoc or a single-use plan. It concerns with how much aspect of planning. Budget is planning, coordination, and controlling technique. Several bases time, function, areas, and scope are used to prepare different types of budgets.
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    Schedule

    Schedule is a part of procedure. It specifies time aspects in terms of beginning and end of work in terms of unit of time Schedule is concerned when and how long aspects of planning. It is a type of single-use plan.

    It is a tool for time management. It is also a useful tool for coordination and control.

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    Programme

    Term programme is similar to broad plan or scheme. Programme is concerned with integrated actions containing entire range of activities designed to realise a predetermined objective(s). A programme is a broad plan that integrates all plan components objectives, policies, rules, procedures, schedules, etc.

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    Management By Objectives (MBO)

    Management By Objectives (MBO) is an objective-based managerial philosophy and approach. The concept was originally developed by Peter F. Drucker in 1954. In MBO, every decision is taken in context with objectives to be achieved. MBO philosophy carries important implications for areas like performance appraisal, resource allocation, integration, participative management, and motivation, long-run planning, human relations, and like. It has its merits and demerits.
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