Printer-friendly version

Browse the glossary using this index

Special | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL

P

Plan

A plan can be as simple as making a list, but in business plans are usually more comprehensive and include details of what, when, how, and who.

There are many types of plan. They include:

  • financial
  • short term
  • long term
  • strategic
  • business.

Planning

Planning means deciding in detail what you are going to do to achieve an objective. Planning is the start of a process, involving organising, leading and controlling. Planning is the most fundamental management function. The other three functions, organising, leading and controlling, can’t work without planning. Planning looks ate the future and answers the questions:

  • Where do we want to go?
  • How will we get there?

Power

We can divide ‘power’ into two groups: official and unofficial power.

Official power is legitimate: it has been authorised by the organisation and its owner. It is sometimes called authority. Managers require formal authority so that staff will comply (do what they are told).

Some power in an organisation is unofficial, or informal. In this case it is the result of strong personalities, friendships, special knowledge and skills and other qualities not recognised by the formal organisation.

Productivity

Productivity means the rate at which things are produced or dealt with. Being productive means that you are doing things that will lead to useful or good results.