Planning

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Based on what the plans seek to achieve and the method which the plan would like to adopt, plans can be classified as different types — Objectives, Strategy, Policy, Procedure, Method, Rule, Programme, Budget.

A budget is a statement of expected results expressed in numerical terms. It is a plan which quantifies future facts and figures.

Methods are the formalized way of doing routine and repetitive jobs. Methods may vary from task to task. Selection of proper method saves time, money and effort and increases efficiency.

The first step in planning is setting objectives. Objectives are the end towards which the activities are directed. They are the end result of every activity.

It can be defined as organization’s general response to a particular problem or situation. In simple words, it is the organization’s own way of handling the problems.

Procedures are routine steps on how to carry out activities. They detail the exact manner in which any work is to be performed. They are established in advance to handle future conditions.

Programmes are the combination of goals, policies, procedures and rules. All these plans together form a programme.

Rules are norms regarding actions and non-actions of employees. They do not allow for any flexibility or discretion.

A strategy provides the broad contours of an organisation’s business. It will also refer to future decisions defining the organisation's direction and scope in the long run.