- Planning means deciding in advance what to do and how to do it.
- It is a basic function of management performed at all levels.
- It involves setting objectives and targets to be achieved within a specific time.
- It requires choosing the best course of action from different alternatives.
- It helps bridge the gap between the present position and future goals.
Topics
Principles and Functions of Management
Nature and Significance of Management
- Concept of Management
- Objectives of Management
- Importance of Management
- Management as an Art, Science and Profession
- Levels of Management
- Functions of Management
- Coordination as an Essence of Management
- Management as an Art
- Management as a Science
- Management as a Profession
- Overview of Nature and Significance of Management
Principles of Management
- Concept of Management Principles
- Significance of Management Principles
- Henry Fayol's Administrative Theory of Management
- Frederick Winslow Taylor's Scientific Management Theory
- Standardisation and Simplification of Work
- Overview of Principles of Management
Business Environment
- Concept of Business Environment
- Importance of Business Environment
- External Factors> Natural Environment
- Impact of Government Policy Changes on Business with Special Reference to Liberalization, Privatization and Globalization in India
- External Factors> Economic Environment
- Overview of Business Environment
Planning
- Planning
- Limitation of Planning
- Planning Process
- Objective of Single Use and Standing Plans
- Strategy of Single Use and Standing Plans
- Policy of Single Use and Standing Plans
- Single Use and Standing Plans - Method Rule
- Budget and Programme
- Types of Plans
- Overview of Planning
Organising
- Organising
- Structure of Organisation
- Concept of Delegation of Authority
- Elements of Delegation
- Importance of Delegation of Authority
- Concept of Decentralization
- Importance of Decentralization
- Steps in the Process of Organising
- Overview of Organising
Staffing
- Staffing
- Staffing as a Part of Human Resource Management
- Evolution of Human Resource Management
- Staffing Process
- Staffing - Recruitment Process
- Steps in Employee Selection Process
- Concept of Training and Development
- Importance of Training and Development
- Methods of Training
- Overview of Staffing
Directing
- Directing
- Principles of Directing
- Elements of Directing
- Concept of Supervision
- Importance of Supervision
- Function of a Supervisor
- Concept of Motivation
- Importance of Motivation
- Maslow’s Hierarchy of Needs
- Motivation - Financial and Non Financial Incentives
- Concept of Leadership
- Importance of Leadership
- Leadership Styles
- Communication
- Elements of the Communication Process
- Importance of Communication in Business
- Formal and Informal Communication
- Barriers to Communication
- How to Overcome the Barriers
- Overview of Directing
Controlling
- Controlling
- Features of Controlling
- Relationship Between Planning and Controlling
- Techniques of Managerial Control
- Responsibility Accounting
- Management Audit
- Overview of Controlling
Business Finance and Marketing
Financial Management
- Concept of Financial Management
- Role and Objectives of Financial Management
- Financial decisions - investment
- Financial Decisions - Financing and Dividend
- Concept of Financial Planning
- Importance of Financial Planning
- Concept of Capital Structure
- Concept of Fixed and Working Capital
- Factors Affecting Fixed and Working Capital Requirements
- Overview of Financial Management
Marketing
- Concept of Financial Market
- Types of Financial Markets
- Money Market in India
- Capital Market in India
- Kinds of Capital Market
- Methods of Floatation in the Primary Market
- Stock Exchange
- Securities and Exchange Board of India (SEBI)
- Distinction Between Capital Market and Money Market
- National Stock Exchange of India (NSE)
- Overview of Marketing
Consumer Protection
- Concept of Consumer Protection
- Consumer Protection Act 1986 (COPRA)
- Concept of Consumer
- Responsibilities of Consumers
- Legal Redressal Machinery Under Consumer Protection Act 1986
- Remedies Available to the Consumer Under Consumer Protection Act 1986
- Consumer Awareness
- Role of Consumer Organisations and NGO's
- Legal Protection to Consumers
- Overview of Consumer Protection
Estimated time: 21 minutes
CBSE: Class 12
Definition: Planning
Planning is deciding in advance what to do and how to do.
CBSE: Class 12
Key Points: Concept of Planning
CBSE: Class
Key Points: Importance of Planning
- Provides Direction – Clearly defines goals and guides employees towards achieving them.
- Reduces Uncertainty – Helps managers anticipate future changes and prepare in advance.
- Avoids Waste – Reduces confusion, duplication, and unnecessary activities.
- Encourages Innovation – Helps turn new ideas into practical plans.
- Improves Decision Making – Helps choose the best course of action from alternatives.
- Basis for Control – Sets standards to compare actual performance and take corrective action.
CBSE: Class 12
Key Points: Features of Planning
- Focus on Objectives: Aims at achieving set goals.
- Primary Function: First and basic function of management.
- Pervasive: Done at all levels and in all departments.
- Continuous: Plans are regularly revised and updated.
- Futuristic: Prepares for future through forecasting.
- Decision-Making: Selects the best option from alternatives.
- Mental Exercise: Requires logical thinking and foresight.
CBSE: Class 12
Key Points: Limitations of Planning
- Leads to Rigidity – Plans reduce flexibility in changing situations.
- Dynamic Environment – Future changes cannot be predicted accurately.
- Reduces Creativity – Employees only follow plans, limiting innovation.
- Costly Process – Requires time, money, and research.
- Time-Consuming – Takes a lot of time to prepare.
- No Guarantee of Success – Planning alone cannot ensure success.
CBSE: Class 12
Key Points: Planning Process
- Setting Objectives – Clearly define organisational and departmental goals to give direction to all employees.
- Developing Premises – Make assumptions about future conditions (like demand, prices, policies) on which plans are based.
- Identifying Alternatives – Find different possible courses of action to achieve the objectives.
- Evaluating Alternatives – Compare the pros and cons of each option in terms of feasibility, risk, and returns.
- Selecting the Best Alternative – Choose the most suitable and practical course of action.
- Implementing the Plan – Put the selected plan into action by arranging resources and assigning tasks.
- Follow-up Action – Monitor and review the plan to ensure objectives are achieved and make corrections if needed.
CBSE: Class 12
Key Points: Types of Plans
- Single-Use Plans – Plans for one-time projects. Examples: programme, project, budget.
- Standing Plans – Plans for routine and repeated activities. Examples: policies, procedures, methods, rules.
- Objectives – Desired future goals the organisation wants to achieve.
- Strategy – Broad long-term plan that defines the organisation’s direction and scope.
- Policy – General guideline for decision-making.
- Procedure – Steps to carry out an activity.
- Rule – Specific instruction about what must be done.
- Programme – Detailed plan of a project including tasks, resources and budget.
- Budget – Financial plan expressed in numerical terms.
