Planning Types Import Purpose Objective

• Definition of Planning:
Planning is a process for accomplishing purpose. It is blue print of business growth and a road map of development. It helps in
deciding objectives both in quantitative and qualitative terms. It is setting of goals on the basis of objectives and keeping in view the resources.


● What should a plan be?
• A plan should be a realistic view of the expectations. Depending upon the activities, a plan can be long range, intermediate range or short range. It is the framework within which it must operate. For management seeking external support, the
plan is the most important document and key to growth. Preparation of a comprehensive plan will not guarantee success, but lack of a sound plan will almost certainly ensure failure.

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● Types of Planning

• Architectural planning

• Business plan

• Comprehensive planning

• Enterprise Architecture Planning

• Event Planning and Production

• Family planning

• Financial planning

• Infrastructure planning

• Land use planning

• Life planning

• Marketing plan

• Network resource planning

• Strategic planning

• Urban planning

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● Purpose of Plan
Just as no two organizations are alike, so also their plans. It is therefore important to
prepare a plan keeping in view the necessities of the enterprise. A plan is an important aspect of business. It serves the
following three critical functions:

• Helps management to clarify, focus, and research their business's or project's development and prospects.

• Provides a considered and logical framework within which a business can develop and pursue business strategies over the next three to five years.

• Offers a benchmark against which actual performance can be measured and reviewed.
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• A plan can play a vital role in helping to avoid mistakes or recognize hidden opportunities. Preparing a satisfactory plan of the organization is essential. The planning process enables management to
understand more clearly what they want to achieve, and how and when they can do it. A well-prepared business plan demonstrates that the managers know the business and that they have thought through its development in terms of products, management, finances, and most importantly, markets and competition.
Planning helps in forecasting the future,
makes the future visible to some extent. It bridges between where we are and where we want to go. Planning is looking ahead.


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● Objectives of Planning

• The objectives are general parts of the planning process. They are the end-results towards which all business activities are
directed. They are needed in every aspect
where performance and result directly and vitally affect the survival and success of the firm. In other words, the objective of the firm justifies its existence.

● Objectives of Planning

• The objectives are general parts of the
planning process. They are the end-results
towards which all business activities are
directed. They are needed in every aspect
where performance and result directly and vitally affect the survival and success of the firm. In other words, the objective of the firm justifies its existence.

According to Robert C. Appley, "Objectives are goals; they are aims which management and administration wish the organization to achieve."

In other words, goals, aims and purposes are also used to signify objectives.

Newman and Summer stated, "For managerial purposes, it is useful to think of objectives as the results we want to achieve.

Objective covers firm's long-range plans specific departmental goals and short-term individual assignment also."

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Fundamentals of Management : Planning [BBA 2305]