Planning Test - 3

All others are the importance of planning except this. 

Because Plans can not change with the dynamic business environment. Thus they lead rigidity.

Programmes are the detailed statement of a project which is prepared for various activities. It comprises of objectives, procedures, policies and rules etc.

Planning involves setting objectives and developing course of action for future. It is deciding in advance as to what to do and how to do.

Policy is the general response of an organisation in a particular situation. These are the organisation's own customised way of handling problems.  Selling goods on cash basis is a type policy.

It is a comprehensive plan of the organisation and is influenced by business environment. Example:  sales promotion techniques, choice of advertising media etc.

Rules are rigid, stringent and compulsive in nature. They must be followed and if are not followed then strict action can be taken. A fine or penality can be charged on violation.

Methods are the way of doing repetitive or routine jobs. Therefore no fine or penality is charged in violation of methods. But penality is charged in case of law and rule.

Planning is an intellectual process.  The planners make prediction for future by using their expertise, innovative ideas and creativity. Thus planning promotes creativity.

Under planning process, we set objectives and decide in advance the appropriate course of action for future. Thus planning bridges gap between present and future position.

Plans are designed for short term goals and long term goals. Thus plans are of two types: 

Single use plans are used for only once.

Standing plans are used over and over again.