Types Of Plans

In this tutorial, we will learn about types of plans which can help managers achieve their organization’s strategic, tactical, and operational goals.

May planning is one of the most important and the first function of management. It is an activity that managers of all levels have to perform. So, according to the level of control, the type of plan will differ. Let us see the different types of programs in management.

Plans also differ from what they seek to achieve and what methods will use to make them. So let us look at the types of programs that managers deal with.

Business plans

A business plan is a written description of your business’s future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you’ve written a plan or at least the germ of one. Business plans are inherently strategic. They include enforced mainly business goals and plan for reaching these goals.

For example, departments may have a hiring budget that allocates a certain number of positions and a total salary value for a calendar year. Next year, that budget may be the same, or it may change depending on the organization’s conditions.

But it cannot be assumed that the budget will stay the same. Zero-based budgets look at each budget as if they were brand-new and required managers to justify each of the budgeted items. This process ensures that budgets closely tied to the latest organizational goals.

Marketing plans

The marketing plan details the strategy that a company will use to market its products to customers. The plan identifies the target market, the value proposition of the brand or the product, the campaigns to be initiated, and the metrics to be used to assess the effectiveness of marketing initiatives. These plans are concerned with changes in the perception of people and branding.

Operational plans: 

An Operational Plan is a highly detailed plan that provides a clear picture of how a team, section, or department contributes to achieving the organization’s goals. The operational plan maps out the day-to-day tasks required to run a business and cover.

Project plans:

They define the goals of a particular project. A project plan, also known as a project management plan, is a document that contains a project scope and objective. It is most commonly represented in a Gantt chart to make it easy to communicate to stakeholders.

Strategic plans: 

They identify and target internal goals but provide general guidance on how they can attain. The organization’s long-term vision articulates the organization’s mission and value statements define what business the organization is in or hopes to be inarticulate how the organization will integrate itself into its general and task environments. 

The next step that follows objectives, a strategy is a complete and all-inclusive plan for achieving said objectives. An approach is a that has three specific dimensions.

  • They are establishing long-term objectives.
  • Selecting a specific course of action
  • Allocating the necessary resources needed for the plan.

The forming strategy is generally reserved for the top level of management. It defines all future decisions and the company’s long-term scope and general direction.