Question

Discuss essential features of good note

Answer 1

Answer:1. It should define objectives:

Objectives are the ultimate goals towards which all activities are directed.A statement which lays down objectives should be clear and definite and everyone in the organisation should understand it in the same sense.

2. It should be simple:

If a plan is expressed in a language which is not understandable by the personnel of the concern or it is complicated, it may create problems for those who are to actually put it into action.

3. It should be clear:

A good plan must not contain anything that is ambiguous or indefinite.

4. It should be comprehensive:

A good plan should contain all that is necessary for the attainment of the objectives of the enterprise. If a master plan is prepared for the whole organisation it will be more useful as it can be seen that nothing is left from it.

5. It should be flexible:

A flexible plan adjusts the changes in the plans without any delay. Hence a plan must not be rigid. A plan should be broad enough to meet the future challenges and uncertainties.

6. It should be economical:

A plan should be made keeping in mind the

resources available with the concern and making optimum utilisation of the available resources. In other words, a plan must recover its cost and should result in the least operating cost.

7. It should establish standards:

A plan must lay down the standards to be achieved. The actual performance is compared with these standards and deviations if any are noted.

8. It should be balanced:

It is necessary ensure that there is a proper co­ordination between different types of plans such as short-term and long term plans, “plans of different departments etc. A business enterprise usually has a number of department’s viz., production, marketing, finance etc. Each department frames its own plans. It is for the management to see that all these plans are well balanced.

9. It should be practicable:

A plan is worth only if it is practically workable and realistic. It should be formulated keeping in view the limitations of planning. If a plan is good in theory but bad in practice, it is of no use. Similarly, if the desired results are not achieved by a plan, it leads to frustration at all levels in the organi