MBAM-101: Management Principles and Organization Behaviour – Unit 4

MBAM-101: Management Principles and Organization Behaviour – Unit 4

Objectives: explain the meaning, nature and importance of the managerial function of Planning; gain familiarity with the various steps of the Planning process; describe the major types of Planning-such as Strategic Planning, Tactical Planning, Long-range Planning and Short-range Planing and enumerate and explain the principles on which Planning is based.

Materials:
Relevant materials are available here.

Questions:

1. Define the concept of planning and explain its salient characteristics.
2. Do you think that planning is a guaApnteefor organisational success? Give reasons in the decision making process?
3. Is there any need for planning a plan? Explain.
4. What is the difference between strategic and long-range planning?
5. Why is forecasting so important for planning?