1. Objectives: In the words of Koontz and O’Donnell, “Management terminology, objectives are the end-point’s of a management programme whether stated in general or specific terms”.
  1. Policies: In the words of George R, Terry, “Policy is a verbal, written or implied overall guide setting up boundaries that supply the general limits and directions in which the managerial action will take place”. They are the guidelines or executive action at all levels of management.
  1. Procedures: According to George R. Terry “a procedure is a series of related tasks that make up the chronological sequence and established way of performing the work to be established”.
  2. Methods: A method is a specified or prescribed process, or manner or the way in which a particular task or operation is to be performed.
  3. Rules: Rules are a plan that lay down a required course of action with respect to a given situation. In other words, rules are established principles for carrying out the activities in a systematic manner. In short, they are the prescribed behaviour of the people in the organization.
  4. Strategies: In the words of A.D. Chandler, “Strategy is the determination of the basic long-term goals and objectives of an enterprise and the adoption of courses of action and the allocation of resources to carry out these goals”.
  5. Programmes: Programmes are the concrete scheme of the action designed to implement the policies and realize the objectives. In other words, they are the action-steps necessary to achieve the objectives. In short: they are the specific and precise plan which lays down the operations to be carried out to accomplish a given task, with a specified ~)i of time.
  6. Schedules: Schedules are the dates and timings fixed for completing the programmed activities. In short, schedules are the time-table for the work to be done.
  7. Projects: A project is an individual part of a general programme. In other words, it is part of the job that is required to be done in connection with a genera programme.
  8. Budgets: The institute of cost and management accountants, London, has defined a budge as “a financial and/or quantitative statement, prepared prior to a defined period of time, of the policy to be pursued during that period for the purpose of attaining a given objective”
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