Types Of Plans In Business

For the success of these plans, there should be harmony and coordination at all level.

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It is a comprehensive plan to make decisions defining the organization’s direction and scope in the long run to achieve the organizational objectives.

Strategic plans look ahead over the next two, three, five, or even more years.

They are usually set by the top management of the organization and focus on broad, general issues. They serve as a guide for overall business planning.

All other managerial activities are planned around these objectives.

A strategy provides the broad contours of an organization’s business.

These are the plans which act as a guideline to move the organization from where it currently is to where it wants to be.They are more specific and concrete than strategic plans.The success of strategic and tactical plans depends upon the achievement of operational goals.For example, to impart training to employees at various level orientation programmes, lectures and seminars can be used for top-level management, job training methods and work-oriented methods for supervisory level and on the job training methods for workers.Rules are specific statements that inform what is to be done.Standing Plans: Standing plans are ongoing plans that aimed at providing guidance for performing recurring activities.The important types of standing plans are as follows Policies are general statements that guide thinking or channelize energies towards a particular direction.Tactical Plans: Tactical plans are developed to support the implementation of strategic plans.These plans are developed by middle managers after consulting lower-level managers.They are guides to managerial action and decisions in the implementation of the strategy.The policy is not action but a parameter for action.