Planning - Management function


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Types of Plans:

 

 

Strategic
Strategic plans are organizationwide, establish overall objectives, and position the organization with relation to its environment.

 

Operational Plans
 
Operational plans specify details on how individual objectives are to be achieved.

 

Plans may be long-term or short-term, directional or specific.

 

II. contingency factors in planning:

 

 

Organizational level
Life cycle of the organization
Environmental uncertainty
Length of future commitments.

 

 

III. Myths about Planning

 

Planning that proves inaccurate is a waste of management's time.
Planning can eliminate change.
Planning reduces flexibility.