Planning is the primary function of the management and effective planning is highly required for the early achievement of the objectives of the organization. While the planner is framing any plan for his undertaken he will be considering many factors.
That is the reason why it is said that one of the features of planning is it considers various limiting factors. In my previous article, I have explained what is planning, its meaning, definition, advantages, and disadvantages. If you want to read that then you can do that by following the link.
If you want to know about the types of planning. Then your search will end here because, in this article of mine, I will be telling you the different types of planning which are done in the organizations.
Which are the Different Types of Planning?
There are many types of planning and they are mentioned below.
1) Purpose or Mission Plan.
The purpose or mission plan is identified as the basic function of the organization. Every organization has its own function or purpose of starting the business operations.
For example, the purpose of the organization can be production and distribution of the goods and services etc.
2) Objectives or Goals Plan.
The objectives or goals plan represents the specific results which are expected of the organization.
3) Policies Plan.
The policies can be defined as the area within which a decision is to be made and they ensure that the decisions contribute to the objectives.
This kind of plans helps to decide on the business issues before they become a problem for them.
4) Procedure Plan.
These are the plans established for a required method of handling the business activities. The procedure involves the proper steps in order to achieve the objectives determined.
5) Rules Plan.
This kind of plans is the related to the specific actions which are required in the organization. These are the simplest type of the plans.
6) Program Plan.
These include the objectives, policies, procedures, and rules to carry out any course of action.
7) Strategies Plan.
A strategy is defined as the determination of the basic long-term objective of an enterprise or organization. And adoption of course of action and allocation of the available resources which are necessary.
8) Budget Plan.
Budget is the statement of expected results expressed in numeric terms. A budget may be expressed in financial terms or in terms of labors in a production unit.
So these are the different types of planning. I hope you are clear with all the information mentioned in this guide. But if you have any kind of doubts in your mind then you can comment down below.