Briefly describe the nature of planning process and its necessity for an organisation. explain different types of planning and their requirement.
Question: Briefly describe the nature of planning process and its necessity for an organisation. explain different types of planning and their requirement.
Nature of planning process
Planning is the process of setting goals and objectives, and developing a strategy to achieve those goals. It is a systematic process that involves gathering information, analyzing the information, and making decisions.
Planning is necessary for organizations because it helps them to:
- Achieve their goals: Planning helps organizations to focus their efforts on achieving their goals. It provides a roadmap for how to get from where they are to where they want to be.
- Make better decisions: Planning helps organizations to make better decisions by forcing them to think about the future and to consider all of their options.
- Be more efficient and effective: Planning helps organizations to be more efficient and effective by identifying and eliminating waste. It also helps them to allocate their resources more effectively.
- Adapt to change: Planning helps organizations to adapt to change by giving them a framework for responding to new challenges and opportunities.
Different types of planning and their requirements
There are many different types of planning, but some of the most common include:
- Strategic planning: Strategic planning is long-term planning that focuses on the overall direction of the organization. It is used to develop the organization's mission, vision, and values, as well as its goals and objectives.
- Tactical planning: Tactical planning is medium-term planning that focuses on how to achieve the organization's strategic goals. It is used to develop specific plans and strategies for achieving the organization's goals.
- Operational planning: Operational planning is short-term planning that focuses on the day-to-day activities of the organization. It is used to develop specific plans for how to achieve the organization's tactical goals.
The different types of planning are required at different levels of the organization. Strategic planning is typically done by the top management team, tactical planning is done by middle management, and operational planning is done by lower-level managers and employees.
Necessity of planning for an organization
Planning is necessary for organizations because it helps them to achieve their goals, make better decisions, be more efficient and effective, and adapt to change. Without planning, organizations would be more likely to make mistakes, waste resources, and be less successful.
Here are some specific examples of how planning can benefit organizations:
- A retail company can use planning to develop a strategy for opening a new store in a new market.
- A manufacturing company can use planning to develop a strategy for launching a new product.
- A service company can use planning to develop a strategy for improving customer satisfaction.
- A non-profit organization can use planning to develop a strategy for achieving its mission.
Overall, planning is an essential tool for organizations of all sizes and types. By planning effectively, organizations can improve their chances of success.
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