Unit I -Planning

PLANNNING :AN OVERVIEW 

• 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.

Types of Plan

1. Single-use and standing plans : An organisation has to prepare a plan before making any decision related to business operation, or undertaking any project. Plans can be classified into several types depending on the use and the length of the planning period. Certain plans have a shortterm horizon and help to achieve operational goals. These plans can be classified into single-use plans and standing plans.
   
   
2. Single-use Plan :A single-use plan is developed for a one-time event or project. Such a course of action is not likely to be repeated in future, i.e., they are for non-recurring situations. The duration of this plan may depend upon the type of the project. It may span a week or a month.

Video on Planning in Management