Two years ago Madhu completed her degree in food technology. She worke

1.	Two years ago Madhu completed her degree in food technology. She worked for sometime in a company manufacturing chutneys, pickles and murabbas. She was not happy in the company and decided to have her own organic food processing unit for the same. She set the objectives and the targets and formulated action plan to achieve the same. One of her objectives was to earn 10% profit on the amount invested in the first year. It was decided that raw materials like fruits, vegetables, spices etc. will be purchased on three months credit from farmers cultivating organic crops only. She also decided to follow the steps required for marketing of the products through her own outlets. She appointed Mohan as a Production Manager who decides the exact manner in which the production activities are to be carried out. Mohan also prepared a statement showing the number of workers that will be required in the factory throughout the year. Madhu informed Mohan about her sales target for different products, areawise for the forthcoming quarter. While working on the production table a penalty of ₹ 100 per day for not wearing the caps, gloves and apron was announced.Quoting lines from the above para identify and explain the different types of plans discussed.
Answer» Different types of plans discussed in the above para are: i. Objective: “One of her objective is to earn 10% profit on the amount invested in the first year.” • Objectives refer to those end points for the attainment of which all the activities are undertaken. ii. Policy: “It was decided that raw material like fruits, vegetables, spices etc. will be purchased on three months credit from farmers cultivating organic crops only.” • Policy refers to those general statements which are decided for the guidance of the employees while taking decisions. iii. Procedure: “She also decided to follow the steps required for marketing of the products through her own outlets.” OR “She appointed Mohan as a production Manager who decides the exact manner in which the production activities are to be carried out. • Procedure refers to the plan that determine the sequence of activities to be conducted to perform a work. iv. Budget: “Mohan also prepared a statement showing the number of workers that will be required in the factory throughout the year.” OR v. “Madhu informed Mohan about the sales target for different products, areawise for the forthcoming quarter.” • Budget refers to the quantitative expression of the plan of action. vi. Rule: “While working on the production table a penalty of ™100 per day for not wearing the caps, gloves and aprons was announced.” • Rule refers to the plan that tells us what is to be done and what is not to be done in a particular situation.

Two years ago Madhu completed her degree in food technology. She worked for sometime in a company manufacturing chutneys, pickles and murabbas. She was not happy in the company and decided to have her own organic food processing unit for the same. She set the objectives and the targets and formulated action plan to achieve the same. One of her objectives was to earn 10% profit on the amount invested in the first year. It was decided that raw materials like fruits, vegetables, spices etc. will be purchased on three months credit from farmers cultivating organic crops only. She also decided to follow the steps required for marketing of the products through her own outlets. She appointed Mohan as a Production Manager who decides the exact manner in which the production activities are to be carried out. Mohan also prepared a statement showing the number of workers that will be required in the factory throughout the year. Madhu informed Mohan about her sales target for different products, areawise for the forthcoming quarter. While working on the production table a penalty of ₹ 100 per day for not wearing the caps, gloves and apron was announced.Quoting lines from the above para identify and explain the different types of plans discussed.

Answer»

Different types of plans discussed in the above para are:

i. Objective: “One of her objective is to earn 10% profit on the amount invested in the first year.”

• Objectives refer to those end points for the attainment of which all the activities are undertaken.

ii. Policy: “It was decided that raw material like fruits, vegetables, spices etc. will be purchased on three months credit from farmers cultivating organic crops only.”

• Policy refers to those general statements which are decided for the guidance of the employees while taking decisions.

iii. Procedure: “She also decided to follow the steps required for marketing of the products through her own outlets.”

“She appointed Mohan as a production Manager who decides the exact manner in which the production activities are to be carried out.

• Procedure refers to the plan that determine the sequence of activities to be conducted to perform a work.

iv. Budget: “Mohan also prepared a statement showing the number of workers that will be required in the factory throughout the year.”

v. “Madhu informed Mohan about the sales target for different products, areawise for the forthcoming quarter.”

• Budget refers to the quantitative expression of the plan of action.

vi. Rule: “While working on the production table a penalty of ™100 per day for not wearing the caps, gloves and aprons was announced.”

• Rule refers to the plan that tells us what is to be done and what is not to be done in a particular situation.

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