Wednesday, June 17, 2009

Components of Planning

1. Objectives

objectives are that target which have to achieve . These are the top point of company . Company's main objectives are to maximize profit and wealth . So , this is the one main component of planning . Every company first identifies different objectives for making plannings .

2. Policies

Policies are guidelines which is given by company and company's departmental managers for increase the efficiency of company employees and creating work ethics .

3. Procedure

Procedure are those steps which are taken for doing any task . Any task or work may be small or big but it should be completed with specific procedure .

4. Rules

Rules are strict principles which are needed to create discipline in office . Manager knows that if employees leave from rules , it may possible that indiscipline will spread in office . Suppose , if company rule is to open office at 9 a.m. but after requesting all employees, manager of company leaves this rule . After this one employee started at 10 am and other started to reach office at 11 am . This exemption of rule reduces the growth of work . So , rules are so needed in office .

5. Method

When company makes procedure and its different steps , after this company evaluates every steps , every step can be performed with different alternative ways and every alternative way is called method .

6. Programme

Programme is very short term planning which is needed to show something or for motivating or providing some announcements .

7. Project

Projects are mainly financial planning . Company can make different projects for investing money or getting fund from different sources .

8. Budgets

Budgets are also components of planning . In this component , company manager makes plans for estimation of all future expenses and incomes and this is very useful for checking the performance of every employee and it is used in responsibility accounting .

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