Planning (Management)
Q1 What is Planning? What are the different types of planning? Planning is a process of setting goals, defining actions to achieve those goals, and organizing the resources and efforts needed to carry out those actions.It involves anticipating future needs and circumstances , making decisions about the best course of action, and preparing for potential challenges or opportunities. Types of planning: (1)Strategic Planning: Strategic planning deals with the organization’s long term goals such as survival, growth ,etc. It involves setting long term objectives(three years or more) set by top management and deciding about the judicious deployment of resources to achieve those objectives .It generally includes the entire organization and includes formulation of objectives.It is often based on organization ‘s mission, which is its fundamental reason for existence.It tends to be a top managem...