Planning plays an important role in management as it sets a road or goal that an organization must follow to achieve maximum output. Planning is the efficient method of making decisions about goals and development of judgment about the activities necessary to produce a preferred future that an individual, group, work unit or organization will pursue. Management planning also involves various factors that influence strategic, tactical, operational, and contingency planning. Some consist of legal issues, ethics, and corporate social responsibility that have also impacted management planning.
Planning in management function is concerned with major goals for future organizational performance and deciding on the responsibilities and resources to be used in order to achieve those goals. For it to meet those goals, managers could develop plans such as a strategic, tactical, operational, and contingency plan. Planning always has a purpose. The purpose may be accomplishing of certain goals or targets. The planning helps in achieving these goals or targets by using the available time and resources. To reduce the timing and resources also involves correct planning.
There are many levels that management planning uses, one is strategic planning. Strategic planning determines where an organization is going over the next year or more and how it's going to get there. Usually top-level managers are known for being the strategic planners. The process focused on major function such as long-term survival value, and growth of the organization. Strategic planners cautiously think about a range of active forces in the environment, for example increasing competition and ...