Posted on: Monday, September 18, 2017
The main components or elements of planning are as follows:-
(1) Objectives: Objectives are the desired results that an organization wants to achieve within a specified time period.
(2) Strategies: Strategy means the long range approach for dealing with the organization’s competitive environment with a view to win over competitors in business.
(3) Policies: Policies are the guidelines set to provide direction in decision making. These set the boundaries around which decisions are made.
(4) Procedures: Procedures are the chronological sequence of steps or actions to be taken to accomplish a specific test or job.
(5) Method: A method is a prescribed way of completing a step in a procedure.
(6) Rules: Rules are guiding statements that direct action or behaviour of individuals in a given situation.
(7) Standards: Standard is a measure against which the level of performance is measured or evaluated.
(8) Programmes : A programme is a sequence of action steps arranged in the priority necessary to accomplish an objective.
(9) Schedules: A Schedule is a plan which indicate the time of : (i) commencement of task; (ii) passing through the different stages or processes and (iii) Finalizing the task.
(10) Budgets: A budget is a numerical plan containing expected results in quantitative or numerical terms.
(11) Projects: A project is a programme with less significant objectives, generally a shorter period of time and usually less detail.