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Question
Give the meaning of ‘Procedure’ as a type of plan.
Solution
A procedure is a sequence of steps to carry out different activities. These steps are established well in advance to handle future conditions.
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Two years ago Mayank obtained degree in food technology. For some time he worked in a company manufacturing Bread and Biscuits. He was not happy in the company and decided to have his own Bread and Biscuits manufacturing unit. For this he decided the objectives and the targets and formulated action plan to achieve the same. One of his objective was to earn 50% profit on the amount invested in the first year. It was decided that raw materials like flour. sugar, salt etc. will be purchased on two months credit. He also decided to follow the steps required for marketing the products through his own outlets. He appointed Harsh as a Production-Manager who decides the exact manner in which the production activities are to be carried out. Harsh also prepared a statement showing the requirement of workers in the factory throughout the year. Mayank informed Harsh about his sales target for different products, area wise for the forth coming quarter. While working on the production table a penalty of Rs 150 per day was announced for not wearing the helmet, gloves and apron by the workers.
Quoting lines from the above para identify and explain the different types of plans discussed.
Explain any three points that highlight the importance of planning.
Give the meaning of objectives and budget as types of plans.
Distinguish between method and procedure.
Which of the following country adopts indicative planning?
A long-term plan is also known as a ______.
Planning Commission was set up in the year ______.
Who wrote the book ‘The Road to Serfdom’?
Is a rule of thumb that managers use to simplify decision-making.
Which of the following is not a benefit of planning?
Planning requires logical and systematic thinking rather than guess work. The feature of planning being referred to in the above statement is.
Assertion (A): Planning is futuristic.
Reason (R): Planning is concerned with the future which is certain and does not require forecast.
Which is the main river in the Bharmaur region?
Hill area development programme does not include ______.
Aim of regional planning is ______.
Bharmaur ITDP includes ______.
A ______ is a comprehensive plan designed to implement the policies and accomplish the objectives of an organisation.
Planning is of vital importance in the managerial process. Give any four reasons to support this statement.
