Types Of Plans In Business

Types Of Plans In Business-1
There is a policy at all level and in all departments.Due to well-defined policy decision making becomes an easier task. The company may have a recruitment policy, pricing policy, refund policy, replacement policy within which objectives are set and decisions are made.For the success of these plans, there should be harmony and coordination at all level.

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A strategy provides the broad contours of an organization’s business.

These are the plans which act as a guideline to move the organization from where it currently is to where it wants to be.

Standing Plans: Standing plans are ongoing plans that aimed at providing guidance for performing recurring activities.

The important types of standing plans are as follows Policies are general statements that guide thinking or channelize energies towards a particular direction.

Operational Plans: They are made for supporting the implementation of tactical plans and achievement of operational goals.

They clearly specify the things needed to be done in the short run, in order to achieve the operational goals.

For example, to impart training to employees at various level orientation programmes, lectures and seminars can be used for top-level management, job training methods and work-oriented methods for supervisory level and on the job training methods for workers.

Rules are specific statements that inform what is to be done.

The first step in the planning process is to set objectives.

Objectives can be defined as the desired future position that the management would like to reach (end results).

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