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Requirements of a Good Plan

A good plan should possess the following qualities or feartures:

(i)    The plan should be simple. A plan to be effective should be simple be understood and worked upon by different individuals and groups.

(ii)    The plan should be specific rather than general. The more explicit it is, the less chance there is for it  to be misinterpreted. Objectives and goals should be clearly defined. The means for carrying out the plan should also be indicated.

(iii)    The plan should be logical and practical. The more fact it is based on the better it is. If facts are not available, the reasonable assumptions must be made.

(iv)    The plan must be flexible in nature. No plan can cover all possible contingencies. Conditions under which a business operates keep on changing. So planning must be flexible. It must not be rigid. It should enable the management to take care of changes in the environment.

(v)    The plan must be capable of being controlled. Effective planning of business activities depends upon the ability to foresee with almost accuracy the nature and requirements of future events relating to industry in general and the business undertaking n particular. Therefore, the plan must distinguish between controllable and uncontrollable future conditions.

(vi)    The plan should be stable. This means that the basic features of the plan should not be discarded or modified substantially because of changes in external factors.

(vii)    The plan must be complete and integrated. A plan is said to be complete when s comprehensive enough to cover all actions expected from s comprehensive enough to cover all actions expected from the individuals and sections of the undertaking as a whole. The plan is an integrated one when the various administrative sub-plans are assembled into one another that the whole enterprise operates efficiently.

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