Ask questions which are clear, concise and easy to understand.
Ask QuestionPosted by Vimal Kumar 7 years, 1 month ago
- 3 answers
Vansh Rastogi 7 years, 1 month ago
Riya Jain 7 years, 1 month ago
Posted by Cbse Student 7 years, 1 month ago
- 2 answers
Gaurav Seth 7 years, 1 month ago
1. Setting Objectives:
– Objectives specify what the organization wants to achieve.
– Objectives can be set for the entire org. & stated to each dept. within the org. very clearly, to determine how all depts. would contribute towards overall objectives.
-Then these have to percolate down to all employees at all levels so that they understand how their actions contribute to achieving objectives.
– E.g. Objective could be to achieve sales, expansion of business etc.
2. Developing Premises:
– Plans are made on the basis of some assumptions.
– These assumptions, which provide the basis for planning, are called premises.
– All managers involved in planning should be familiar w/ them, cuz plans are expected to operate & reach their destination subject to these. They can be:
• Internal premises: Cost of products, capital, machinery, profitability etc.
• External premises: Changes in technology, population growth, competition, govt. policies etc
3. Identifying Alternative Courses Of Action:
– After setting the objectives, managers make a list of alternatives through which the org. can achieve its objectives as there can be many ways to achieve the objectives & managers must know all of them.
– E.g. Sales could be increased through any of the following ways:
• By enhancing advertising expenditure
• Appointing salesmen for door-to-door sales
• By offering discounts
• By adding more product lines.
4. Evaluating Alternative Courses Of Action
– Positive & negative aspects of each &every proposal need to be evaluated to determine their feasibility and consequences in the light of each objective to be achieved.
– E.g. In financial plans, risk-return trade-off are imp. Riskier the investment, higher the returns it is likely to give. To evaluate such proposals, detailed calc. of earnings, taxes, earnings per share etc. should be done.
5. Selecting The Best Alternative
– Real point of decision-making→ Best plan has to be adopted and implemented.
– The ideal plan = most feasible, profitable and with least negative consequences.
– Most plans may not be subjected to mathematical analysis. In such cases, subjectivity & manager‘s experience, judgment and intuition are important to select the most viable alternative.
– Sometimes a combination of plans may be selected instead of one best course.
6. Implementing The Plan
– Concerned with putting the plan into action.
– For implementing the plans, managers start organizing & assembling resources for it.
– E.g. If there is a plan to ↑ production, then more labour, more machinery will be reqd. This step would also involve organizing for more labour and purchase of machinery.
7. Follow Up Action
– This involves monitoring the plans and ensuring that activities are performed according to the schedule.
– Whenever there are deviations from plans, immediate action has to be taken to bring implementation according to the plan or make changes in the plan.
Posted by Riya Dixit 7 years, 1 month ago
- 1 answers
Riya Jain 7 years, 1 month ago
Posted by Aman Markhande 7 years, 1 month ago
- 1 answers
Riya Jain 7 years, 1 month ago
Posted by Nikita Hunka 7 years, 1 month ago
- 0 answers
Posted by Shreya Raj 7 years, 1 month ago
- 2 answers
Sahin Kulsum 7 years, 1 month ago
Gaurav Seth 7 years, 1 month ago
capital structure is called financial leverage. With the increase of financial leverage the ratio of cheap capital in the total
capital of the company increases. Consequently, the total capital cost decreases and the company is in a profitable
situation.
Posted by Yunus Ali 7 years, 1 month ago
- 1 answers
Gaurav Seth 7 years, 1 month ago
| Meaning | Authority refers to the power or right, attached to a particular job or designation, to give orders, enforce rules, make decisions and exact compliance. | Responsibility denotes duty or obligation to undertake or accomplish a task successfully, assigned by the senior or established by one's own commitment or circumstances. |
| What is it? | Legal right to issue orders. | Corollary of authority. |
| Results from | Formal positon in an organization | Superior-subordinate relationship |
| Task of manager | Delegation of authority | Assumption of responsibility |
| Requires | Ability to give orders. | Ability to follow orders. |
| Flow | Downward | Upward |
| Objective | To make decisions and implement it. | To execute duties, assigned by superior. |
| Duration | Continues for long period. | Ends, as soon as the task is accomplished. |
Posted by Pardeep Jain 7 years, 1 month ago
- 1 answers
Posted by Ravindra Dwivedi 7 years, 1 month ago
- 1 answers
Vansh Rastogi 7 years, 1 month ago
Posted by Piyush Chaurasia 7 years, 1 month ago
- 4 answers
Shreya Raj 7 years, 1 month ago
Riya ? 7 years, 1 month ago
Alka Kumari 7 years, 1 month ago
Posted by Sukhdeep Singh 7 years, 1 month ago
- 4 answers
Vansh Rastogi 7 years, 1 month ago
Posted by Abhinav Singh 7 years, 1 month ago
- 2 answers
Shreya Raj 7 years, 1 month ago
Alka Kumari 7 years, 1 month ago
Posted by Aman Alam 7 years, 1 month ago
- 1 answers
Posted by Vansh Rastogi 7 years, 1 month ago
- 3 answers
Shreya Raj 7 years, 1 month ago
Kanu Singh 7 years, 1 month ago
Posted by Akash Chandra 7 years, 1 month ago
- 1 answers
Posted by Tohid Superb Khan 7 years, 1 month ago
- 3 answers
Shreya Raj 7 years, 1 month ago
Vansh Rastogi 7 years, 1 month ago
Mohd Shariq Ms Raza 7 years, 1 month ago
Posted by Simran Krishnani 7 years, 1 month ago
- 3 answers
Shreyank Verma 7 years, 1 month ago
Mohd Shariq Ms Raza 7 years, 1 month ago
Posted by Sakshi Sharma 7 years, 1 month ago
- 2 answers
Komal Sharma 7 years, 1 month ago
Gaurav Seth 7 years, 1 month ago
Planning premises means systemic and logical estimate for the future factors affecting planning.
According to Dr.G.R.Terry ,”planning premise are the assumptions providing a background against which the estimated events affecting the planning will take place”
Posted by Cbse Student 7 years, 1 month ago
- 2 answers
Komal Sharma 7 years, 1 month ago
Posted by Manu Kumar 7 years, 1 month ago
- 2 answers
Shreya Raj 7 years, 1 month ago
Posted by Sajal Agarwal 7 years, 1 month ago
- 2 answers
Sajal Agarwal 7 years, 1 month ago
Vansh Rastogi 7 years, 1 month ago
Posted by Prashant Kasana 7 years, 1 month ago
- 1 answers
Posted by Aanchal Patidar 7 years, 1 month ago
- 1 answers
Posted by Kamlesh Beniwal 7 years, 1 month ago
- 2 answers
Gaurav Seth 7 years, 1 month ago
(a) Profit Sharing
Sometimes the employees are given a share in the profits of the organization. This motivates them to perform efficiently and give their best to increase the profits of the organization.
(b) Bonus
It is a sum of money offered to an employee over and above the salary or wages as a reward for his good performance.
(c) Job Security
Job security provides future stability and a sense of security among the employees. The employees are not worried about the future and thus work with more enthusiasm. Owing to the unemployment problem in our country, job security works as a great incentive for the employees. However, there is also a negative aspect of this incentive that employees tend to take their job for granted and not work efficiently.
Posted by Jaya Sheela 7 years, 1 month ago
- 1 answers
Posted by Rakesh Singh 7 years, 1 month ago
- 2 answers
Sarang Rb 7 years, 1 month ago
Posted by Kamlesh Beniwal 7 years, 1 month ago
- 1 answers
Posted by Kashish Khandelwal 7 years, 1 month ago
- 0 answers

myCBSEguide
Trusted by 1 Crore+ Students

Test Generator
Create papers online. It's FREE.

CUET Mock Tests
75,000+ questions to practice only on myCBSEguide app
myCBSEguide
Rahul Jain 7 years, 1 month ago
1Thank You