TYPES OF PLANS

Plans are of different types. This may be classified in terms of functional areas,
time horizon, and the frequency of use.
FUNCTIONAL AREA PLANS
• Marketing plans- this is the written document or blueprint for implementing and
controlling an organization's marketing activities related to a particular marketing
strategy.
• Production plan- states the quantity of output a company must produce.
• Financial Plans- summarizes the current financial situation of the firm, analyzes financial
needs and recommends a direction for financial activities.
• Human resource management plan- indicates the human resource needs of a company
detailed in terms of quantity and quality based on the requirement of the company's
strategic plan.
PLANS WITH TIME HORIZON
• Short-range plans- these are plans intended to cover a period with less than a year.
• Long-range plans- these are plans covering a time span of more than one year.
PLANS ACCORDING TO FREQUENCY OF USE
• Standing plans- are plans that are used again and again and they focus on managerial
situations that occur repeatedly.
1.Policies
2.Procedures
3.Rules
• Single-use plans -These are plans specifically developed to implement courses of action
that are relatively unique and are unlikely to be repeated.
1. Budget
2. Programs
3. Projects
PARTS OF VARIOUS FUNCTIONAL AREA PLANS
Contents of Various functional area plans
• The Executive Summary - presents an over-all view of the marketing project and its
potential.
• Table of contents
• Situational Analysis and Target Market
• Marketing objectives and goals
• Marketing strategies
• Marketing Tactics
• Schedules and Budgets
• Financial Data and Control
CONTENTS OF THE PRODUCTION PLAN
• The amount of capacity the company must have
• How many employees are required
• How much material must be purchased
CONTENTS OF THE FINANCIAL PLAN
• An analysis of the firm's current financial condition as indicated by an analysis of the
most recent statement
• A sale forecast
• The capital budget
• The cash budget
• A set of pro forma( or projected ) financial statement
• The external financing plan
CONTENTS OF HUMAN RESOURCES PLAN
• Personnel requirements of the company
• Plans for recruitment and selection
• Training plan
• Retirement plan