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Question : 25
Total: 34
Two years ago Mayank obtained degree in food technology. For some time he worked in a manufacturing company of Bread and Biscuits. He was not happy in the company and decided to have his own Bread and Biscuits manufacturing unit. For this he decided the objectives, the targets and formulated action plan to achieve the same.
One of his objective was to earn50 % ₹ 150
Quoting lines from the above para identify and explain the different types of plans discussed.
One of his objective was to earn
Quoting lines from the above para identify and explain the different types of plans discussed.
Solution:
Different types of plans discussed in the paragraph are:
(i) Objective: An objective is the goal that a management desires to achieve. By stating the objective, the management broadly defines what is to be done. For example. "One of his objective was to earn50 %
(ii) Policy: A policy is a general statement that aims at channelising the efforts of the organisation in a particular direction. It forms the general response or a course of action to be followed in a particular situation.
For example: "Raw materials like flour, sugar, salt, etc., will be purchased on two months credit."
(iii) Procédure: It consists of sequence of routine steps on how to carry out activities. It details the exact manner in which any work is to be performed. For example.
'He also decided to follow the step required for marketing the products through his own outlets.
Or
He appointed Harsh as a Production Manager who decided the exact manner in which the production activities are to be carried out."
(iv) Rule: A rule is a statement that specifies what is to be done or not be done. For exampleWhile working on the production table a penalty for 150 per day was announced for not wearing the helmet, gloves and apron by workers.
(v) Budget: A budget is plan which states expected results of a given future period in numerical terms. It may be expressed in time, money or physical units. For example 'Harsh also prepared a statement showing the requirement of workers in the factory throughout the year.
Or
Mayank informed Harsh about his sales target for different product, are wise for the forth coming quarters.'
(i) Objective: An objective is the goal that a management desires to achieve. By stating the objective, the management broadly defines what is to be done. For example. "One of his objective was to earn
(ii) Policy: A policy is a general statement that aims at channelising the efforts of the organisation in a particular direction. It forms the general response or a course of action to be followed in a particular situation.
For example: "Raw materials like flour, sugar, salt, etc., will be purchased on two months credit."
(iii) Procédure: It consists of sequence of routine steps on how to carry out activities. It details the exact manner in which any work is to be performed. For example.
'He also decided to follow the step required for marketing the products through his own outlets.
Or
He appointed Harsh as a Production Manager who decided the exact manner in which the production activities are to be carried out."
(iv) Rule: A rule is a statement that specifies what is to be done or not be done. For exampleWhile working on the production table a penalty for 150 per day was announced for not wearing the helmet, gloves and apron by workers.
(v) Budget: A budget is plan which states expected results of a given future period in numerical terms. It may be expressed in time, money or physical units. For example 'Harsh also prepared a statement showing the requirement of workers in the factory throughout the year.
Or
Mayank informed Harsh about his sales target for different product, are wise for the forth coming quarters.'
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