The managers are involved in the process of planning with a view to achieve the goals of the organization. A plan can be considered as a good plan if it is capable of helping the managers in achieving the organizational goals. Therefore, there are certain characteristics that should be a part of any good plan:
1. Clear objective: the first requirement of a good plan is that it should be based on the objectives that have been clearly defined. As mentioned above, the process of planning is used for achieving the goals of the organization. But if these goals have not been defined clearly, it may result in chaos and confusion. Therefore it is very important that the organizational objectives should be defined clearly and they should be accurate, concise and definite.
2. Proper understanding: A plan can only be implemented effectively if the persons who have the responsibility of executing the plan have a proper understanding of the plan. On the other hand if these persons are not capable of following the plan properly or if they do not really understand the ways in which the plan has to be undertaken, it is very difficult for these programs to effectively implement the plan. Therefore, it is very important that the plan should be conveyed to all the persons properly and at the same time, clarifications should also be given if needed. Therefore, another characteristic of a good plan is that it should be properly understood by all the persons who have the responsibility to implement such a plan.
3. Comprehensive: another characteristic of a good plan is that it should be able to cover all the aspects of the business so that the objectives can be achieved properly. The different parts of the plan should fit together and the purpose as well as the timing of the plan should be arranged in such a way so that the necessary coordination can be achieved.
4. Flexibility: a good plan is also required to be flexible so that it can deal with any changes that may arise in the future. It is not possible to predict the future with accuracy and therefore there are always chances that such changes may take place in future that may have an influence on the effectiveness of the plan. Therefore, a flexible plan is capable of dealing with these changes and makes adjustments accordingly. It is very important that the plan is broad enough to accommodate any changes that may arise in the future without compromising the main objectives of the plan. Therefore the managers should never consider a plan as rigid. They should always be ready to make the changes that may be required as a result of the change in situation.
5. Economical: another characteristic of a good plan is that it should be economical and the cost that has been incurred by the organization in making and executing the plan needs to be considered for this purpose. It is very important that a good plan is as economical as possible, keeping in view the resources that are available with the organization.