Thank you {> Aglaia connecting youShort term plans * Short-term plans generally allocate resources for a year or less. * They may also be referred to as operational plans because they are concemed with daily activities and standard business operations. * It must be monitored and updated, and this is the role of middle- and first-level management. * Different managerial levels have responsibility for implementing different types of short-term plans.Long term plan (based on the time) « Along-term plan is crucial to the ullimate success of the organization. * Along-term plan extends four to five years into the future. * For some industries it may took two or three years. « After that, it becomes too difficult to predict the future with any degree of certainty. * Top management is responsible for the development of the long-term plan. * The larger and more complex the organization, the larger and more complex the long-term plan will be to include all of the individual departments and functions.Single plan (Based on use) * Single-use plans refer to plans that address a one-time project or event. ¢ The length of the plans varies, but the most common types are budgets and project schedules. * The obvious advantage of a single-use plan is that it can be very specific in how it addresses the needs of a particular situation.Standing plans * Standing plans are plans designed to be used again and again. * Examples include policies, procedures, and regulations. * The advantage of standing plans is that they foster unity and fairness within an organization and help to support stated organizational values. * Standing plans save time because managers know in advance how to address common situations. * It aids in the delegation of work, because employees are already familiar with the procedures and regulations followed by the organization.Operational Plans « They are the plans that are made by frontline, or low-level, managers. * All operational plans are facused on the specific procedures and processes that occur within the lowest levels of the organization. * Managers must plan the routine tasks of the department using a high level of detail.Tactical Plans * Tactical plans support strategic plans by translating them into specific plans relevant to a distinct area of the organization. * Tactical plans are concemed with the responsibility and functionality of lower-level departments to fulfill their parts of the strategic plan.Strategic Plans(based on nature) * They are designed with the entire organization in mind and begin with an organization's mission. ¢ Top-level managers, such as CEOs or presidents, will design and execute strategic plans to paint a picture of the desired future and long-term goals of the organization. * Essentially, strategic plans look ahead to where the organization wants to be in three, five, even ten years. * Strategic plans, provided by top- ¢ as the framework for lower-level g: .Types of plans * On the basis of nature:- Strategic plans ,Tactical plans ,Operational plans . * One the basis of use:-Single plan, Standing plan. * One the basis of time:-long term plan, Short term plan.Numbering Plans by Budgeting «When decisions are made and plans are set, the final step to give meaning to them is to quantify them with numbers converting them into budgets.Formulating Derivative Plans ®Managers often still need to develop one or more supportive plans to bolster their basic plan and to explain the many details involved in reaching a broad major plan. *derivative plans are essentially required to support the basic or general plan.Selecting a Course ® After identifying the alternatives and considering the merits of each carefully, managers now shall have to adopt a plan and select one course of action. *Managers may decide to follow several courses instead of one best course.Evaluating Alternative Courses *Once alternative courses of action have been identilied after seeking out alternative courses and examining their strong and weak points, they must be evaluated in light of how well each would help the organization reach its goals. \ Evaluation OUTSTANONS determining the costs and expected PES *Evaluating alternatives also includes ory on effects of each. } peorDetermining Alternative Courses * The fourth step is to search for and find out alternative courses of action, especially those nol immediately apparent. Finding alternative is not the problem normally. «Reducing the number of alternatives in order to analyze i: eee and find out the best one is the problem,Developing Premises «The third step in the logical sequence of planning is the establishment of the premises or assumptions on which action statements are buill. *The equality and success of any plan depend on the equality of the assumptions on which it is based. *Even one wrong assumption can produce a poor or unrealistic decision.Establishing Objectives eThis involves determining goals or objectives for enterprise as a whole and then for each subordinate tier and unit. Establishment of objectives involves determining the same for the enterprise as a whole and for each subordinate level or unit. @< @bjectivesBeing Aware of Opportunities + Awareness of opportunities in the environment both external to and internal in the organization is the real beginning point for planning. *At this stage, managers tend to create a foundation from which they will develop their plans for the next planning period.* It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. * According to Urwick, “Planning is a mental predisposition to do things in orderly way, to think before acting and to act in the light of facts rather than guesses". * Planning is deciding best alternative among others to perform different managerial functions in order to achieve predetermined goals.Steps of Effective Planning Process a 2 iIntroduction * Planning means looking ahead and chalking out future courses of action to be followed. * lt is a preparatory step. * It is a systematic activity which determines when, how and who is going to perform a specific job. « Planning is a detailed programme regarding future courses of action. « Itis rightly said “Well plan Is half done”. Therefore planning takes into consideration available & prospective human and physical resources of the organization so as to get effective co-ordination, contribulion & perfect adjustment.