Types of Plans:

i)Objectives: The first step in planning is setting objectives. Objectives, therefore, can be said to be the desired future position that the management would like to reach. Objectives arefor accomplishing an organisation objectives.

ii)Rule:Rules are specific statements that inform what is to be done. They do not allow for any flexibility or discretion.

iii)Procedure: Procedures are routine steps on how to carry out activities. They detail the exact manner in which any work is to be performed. They are specified in a chronological order.

iv)Strategy:A strategy provides the broad contours of an organisation’s business. It will also refer to future decisions defining the organisations direction and scope in the long run.