Planning is getting ready to something. It is the basic of all management functions. Plans are classified into various categories in number of ways on the basis of their functions and frequency of use and the time horizon. There are following types of plans. Purpose or Mission, Objectives or Goals, Strategies, Policies, Procedures, Rules, Programs, Budget
Planning function of management involves selecting missions and objectives and the action to achieve them; it requires decision-making that is, choosing from alternative future courses of action. It bridges the gap from where to where we want to go. Thus we do planning in order: To decide what has to be done, to decide who and how is it to be done
Informal organization is regarded as any joint personal activity without conscious joint purpose even though possibly contributing to joint results. Thus all manner of groups fall within the sphere of informal organization. In the informal organization, people work together because of their personal likes and dislikes etc.
According to Chester Banard “an organization is formal when the activities are coordinated towards a common objective”. He found that the essence of formal organization is conscious common purpose and that formal organization comes into being when persons: are able to communicate with each other, Are willing to act, & Share a purpose
Performance appraisal is a systematic evaluation of the individual with respect to his performance on the job and his potential development. Or Performance appraisal is to know how well an employee does his job. This is carried out by immediate supervisor of the employee and is received by the employer or next higher supervisor.
According to Classical view is maximizing profit is the second priority, the first priority is protecting and improving society’s welfare. Now-a-days modern business organizations are not only economic institution, but they engage their self in such activities to influence political process for their benefits. Society encourages business to become involved in its social, political and legal environment.
A strategy is a way of doing something. It is a game plan for action. It usually includes the formulation of a goal and set of action plans for accomplishment. It implies consideration of the competitive forces at work in managing an organization and the impact of the outside environment on organization actions.
The scope of management has ever since on increase. The managers were entrusted with more and more important roles over period of time. This widened the scope of management, crucially and considerably. The saying goes,” well planned is half done.”