Q1: Explain “Objective” and “Policy” as types of plan using suitable examples.
Ans: Objectives are those endpoints which every organization strives to achieve. These are the basic reason for a firm’s existence. These are usually stated in measurable terms. These are time-bound i.e these are to be achieved within a given period of time. All the activities of the organisation are directed towards the attainment of the objectives. These provide broad direction to employees about what they should do. For e.g. it is a firm’s objective to increase its sales targets by 20%.Policy: A Policy is a general statement that guides decision making. It acts as a guide to managerial actions and decisions in implementing strategy. A policy defines the boundaries within which decisions can be made by the subordinates. The main purpose of policies is to provide a practical shape to objectives by elaborating the manner in which goals are to be achieved. Policies play important role in setting the parameters within which a manager may function. There are different policies at different levels ranging from major company policies to minor policies. Major policies are concerned with the market, competitors, customers and clients etc. whereas minor policies are concerned with the insiders.
Q2: What are the main points in the definition of planning?
Ans: In the words of Koontz O’Donnell, Planning is deciding in advance what to do, how to do it, when to do it and who is going to do it. Planning bridges the gap from where we are and where we want to go. It is a trap to capture the future.Main points involved are:
Q3: Defining ‘organizational objectives’ as the first step in the process of planning. Explain in brief the other steps of this process.
Ans: The first step in the planning process is to establish objectives. Objectives determined must be clear, realistic and specific as to what is to be accomplished. The further steps in the planning process are:
Follow-up Action
Q4: State any three limitations of planning.
Ans: Some limitations of planning are as follows
Q5: ‘Mrs Renu Natrajan’, the Principal of Prince Public School’ appointed Mr Sansar Chand as the coach for football team which was to play the final match in the State-Level Tournament. During training the coach inspired the players to make up their mind to win the match in all circumstances. Also he stressed that they had to win the match with the difference of at least five goals from the losing team. He explained special methods to the players for playing both offensive and defensive game. Also he told them how after beating the opponents, football would be passed from one player to the other until it reached the goal box of the opposite team. At the end of the training, the coach warned all the players against misbehaving with any of the players of the opposite team, otherwise, they could be punished.
Ans: The concept of the Planning function of Management is as follows: Planning is Deciding what needs to happen in the future (today, next week, next month, next year, over the next five years, etc.) and generating plans for action.The 4 Types of Planning concept are:
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