This article throws light upon the ten important features of a sound plan. The features are: 1. Integration 2. Market Research 3. Economy/Financial Constraints 4. Co-Ordination 5. Consistent 6. Flexible 7. Acceptable 8. Participative 9. Based on Planning Premises 10. Effective Communication System. Feature # 1. Integration: A good plan should integrate the short-term requirements of the firm with its [...]
This article throws light upon the four main types of forecasting that are related to external environment. The types are: 1. Economic Forecasting 2. Technological Forecasting 3. Forecasts Regarding Government Policies 4. Sales Forecasting. Type # 1. Economic Forecasting: It is done to forecast the general economic conditions, like boom or depression, upswing or downswing of the economy. Corresponding to [...]
After reading this article you will learn about:- 1. Meaning of Objectives 2. Features of Objectives 3. Importance 4. Multiplicity 5. Hierarchy. Meaning of Objectives: Objectives refer to specific, measurable ends. They are identifiable goals towards which all organisational activities are directed. They are the end results of the organisation's operations. Objectives are the specific targets or standards against which [...]