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Planning ppt class 12 business studies

Planning ppt class 12 business studies

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Planning ppt class 12 business studies

  1. 1. CHAPTER 4 PLANNING
  2. 2. INTRODUCTION  Planning is deciding in advance what to do and how to do. It is one of the basic managerial functions.  Before doing something, the manager must formulate an idea of how to work on a particular task.  Thus, planning is closely connected with creativity and Innovation.  But the manager would first have to set objectives, only then will a manager know where he has to go.  Planning seeks to bridge the gap between where we are and where we want to go. Planning is what managers at all levels do. It requires taking decisions since it involves making a choice from alternative courses of action.
  3. 3. MEANING • Deciding in advance what to do& how to do it. It is one of the basic managerial functions. • It involves 2 aspects: Setting of aims and objectives of the organization + Selecting and developing an appropriate course of action to achieve these objectives. • Koontz and O‘Donnell – ―Planning is deciding in advance what to do, how to do, when to do, and who to do it. Planning bridges the gap from where we are to where we want to go. It makes it possible for things to occur which would not otherwise happen.
  4. 4. IMPORTANCE OF PLANNING 1. Planning provides directions: By stating in advance how the work is to be done planning provides direction for action. If there was no planning, employees would be working in different directions and the organization would not be able to achieve its goals efficiently. 2. Planning reduces the risk of uncertainty: Planning is an activity which helps the manager to look ahead, expect change and make plans to face it. 3. Planning reduces wasteful activities: It bring together efforts of all departments reduces wastage and duplication. 4. Planning promotes innovative ideas: Managers get the opportunity to develop new ideas and new ideas 5. Planning facilities decision making: Under planning targets are laid down. The manager has to evaluate/ assess each option and select the most suitable option. 6. Planning establishes standards for controlling: Planning provides basis for controlling. In order to control anything the manager needs to plan first.
  5. 5. FEATURES OF PLANNING
  6. 6. FEATURES OF PLANNING  1. Planning focuses on achieving objectives: Planning helps to achieve general goals and specific goals.  2. Planning is a primary function of management: Planning lays down the base for other functions of management.  3. Planning is pervasive: Planning is required at all levels of management as well as in all departments of the organisation. The scope of planning is different at different levels and for different departments.  4. Planning is continuous: Planning is not an one time activity it is continuous. (FRAME A PLAN- IMPLEMENT IT- RE –PLAN )  5. Planning is futuristic: The purpose of planning is to meet future events and help the organisation. Planning involves predicting future events and conditions and making the plans accordingly.  6. Planning involves decision making: An organisation has multiple ways of doing a job , and in that various alternatives , Planning helps to choose the best and decide.  7. Planning is a mental exercise: Planning requires application of the mind involving foresight. Planning is an intellectual activity, which requires logical and systematic thinking rather than guess work.
  7. 7. LIMITATIONS OF PLANNING 1. Planning leads to rigidity: Planning discourages individual’s initiative &creativity. The managers do not make changes according to changing business environment. They stop taking or giving suggestions and new ideas. 2. Planning may not work in dynamic environment:=Environment keeps on changing hence, plans also should be changing 3. Planning involves huge costs: When plans are drawn up, huge cost is involved in their formulation. 4. Planning is time consuming: Planning takes a lot of time 5. Planning does not guarantee success: The success of an enterprise is possible only when plans are implemented. Sometimes even after making a good plan it may not be successful. 6. Planning reduces creativity: The top management delegates work to Middle management hence the creativity of other levels of management reduces since they only follow orders.
  8. 8. PROCESS OF PLANNING
  9. 9. 1. SETTING OBJECTIVES:  Objectives specify what the organization wants to achieve.  Goals can be set for the whole organisation or for each department.  After the goals has been set, it has to be communicated to all department & employees.  Objective of the company, has to be understood clearly by the employees.  For Ex- The objective of Mysore Sandal Company is to start a new Production Department for producing of 10000 Mysore Sandal Perfumes. 2. DEVELOPING PREMISES:  The Business managers cannot predict the future, though they are uncertain of future the business cannot stop its work, hence the managers should make some plans by assuming some things.  These assumptions, which provide the basis for planning, are called premises.  Managers can assume changes Internally & Externally such as - • Internal premises: Changes in Capital, New Machinery, Increase in Sales • External premises: Changes in technology, population growth, competition, government policies etc Ex- Mysore Sandal has decided to start production of Perfume bottles, and the business manager has observed that the Government has stopped the permission for Importing perfumes from foreign countries. Hence the Manager has assumed that there can be Increase in Demand for Perfumes so the production department decides to produce 20000 perfume bottles.- Based on Premises STEPS IN PLANNING/PLANNING PROCESS
  10. 10. STEPS IN PLANNING/PLANNING PROCESS 3. IDENTIFYING ALTERNATIVE COURSES OF ACTION: After setting the objectives, managers should make a list of options/alternatives available to them to achieve its objectives. To achieve an objective there are many ways, and the manager should identify all of it. Ex- Mysore Sandal has started to produce 20000 perfume bottles, in order to achieve its objectives it has multiple options such as –  Buying New Machinery  Hiring New Employees  Making the existing employees work for Extra Time - OT 4. EVALUATING ALTERNATIVE COURSES OF ACTION After making a list of options available to achieve the objectives, the Manager should asses or calculate the positive & negative points of each option and its feasibility. Ex- Mysore Sandal has multiple options to increase their production such as -  Buying New Machinery - if this method is chosen it is costly & negative  Hiring New Employees – appointing new employees & training them is time consuming & costly.  Making the existing employees work for Extra Time – OT – Making current employees work over time is a positive option because it is less costly.
  11. 11. STEPS IN PLANNING/PLANNING PROCESS 5. SELECTING THE BEST ALTERNATIVE It is a point of decision-making, in this stage the Best plan has to be adopted and implemented. The plan that is most profitable should be selected. Ex- Mysore Sandal has decided that in order to produce 20000 perfumes it has chosen the option of making existing employees work for Extra Time 6. IMPLEMENTING THE PLAN- Is a process of putting the plan into action. For implementing the plans, managers start organizing & assembling resources for it Ex- Mysore Sandal Company has started the production then then additional labour & machinery will be required. Hence it has to make necessary arrangements for it. 7. Follow Up Action – This involves monitoring the plans and ensuring that activities are performed according to the schedule. – Whenever there are deviations from plans, immediate action has to be taken to bring implementation according to the plan or make changes in the plan Ex- The production manager of Mysore Sandal has to monitor if the production is carried out as per planned, and he has observed that instead of 20000 perfumes it has produced only 18,000 due to Machinery breakdown. Hence he has to arrange for the Machinery repair and immediately produce the 2000 perfumes.
  12. 12. TYPES OF PLAN SINGLE USE PLAN Is developed for a one-time event, these plans are not repetitive. It refers to plan developed for a one- time project or event that has one specific objective. STANDING PLAN Are used over and over again because they focus on organizational situations that occur repeatedly. They are also called repeated use plans.
  13. 13. TYPES OF PLAN • PROGRAMME • BUDGETSINGLE USE • OBJECTIVES • STRATEGY • POLICY • PROCEDURE • RULE • METHOD STANDING PLAN
  14. 14. SINGLE USE PLAN 1. PROGRAMME •A programme is a single use plan •It contains detailed statements about a project outlining • The project details such as objectives, policies, procedures, rules, physical and human resources. For example- Parle-G has started a new advertisement programme for promoting Wheat Breads. This is a short tem activity and not repeated. 2. BUDGET A budget is an estimated or approximate statement of expected result expressed in numerical terms for a definite period of time in the future. For Example- Parle –G production team prepares a Budget to estimate the cost of production for producing 10,000 kgs of biscuits. It includes cost such as – Raw Materials, Power Supply, Labor Wages, Rent etc.
  15. 15. STANDING PLAN 1. Objective – is a plan, that is repeated, once an objective is achieved – a new objective is set. • Objectives are the goals of the organization. • Ex- Parle-G wants to increase the sales of the company by 20% 2. STRATEGY- Is a tactic or an idea of an organisation used by it to achieve its objectives, For Ex- If Parle-G wants to increase its sales by 20% then the strategy to increase sales is to market the products in Social Media – Face book, Instagram etc 3. POLICY- are guidelines & instructions. •They guide, assist & direct the managers to carry out the task. •Ex- The policy of Parle is to make Cash sales only no Cards or digital payments. 4. PROCEDURE- They indicate how a work has to be done in a systematic manner and step by step. Ex- If Parle G has to produce Bread it has to first arrange for Wheat Flour, Baking Powder, Machinery, Labour, Oven, & Packing materials. 5. RULE: specific statement that tells what is to be done and what not to be done in a specified situation. Ex- Parle-G production department employees should wear gloves, head cap & mask during the time of production 6. METHOD: Methods are standardized ways or manner in which a particular task has to be performed Ex- Parle can produce the Breads by manual method or by using Machine.
  16. 16. END OF CHAPTER

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