Discussion Forum- Chapter-7

Planning and decision making:

Planning and decision making:

by Iftekharul Alam (202-14-3210) -
Number of replies: 0

Plan:

Planning is about managing resources and priorities in an organized way,” Berry says. “Management is related to leadership, and it’s related to productivity.

The four types of plan. Like:

1.Operational Plan:

This type of planning typically describes the day-to-day running of the company. Operational plans are often described as single use plans or ongoing plans.

2. Strategic Plan:

Strategic planning includes a high-level overview of the entire business. It’s the foundational basis of the organization and will dictate long-term decisions.

3. Tactical Plan:

Tactical planning supports strategic planning. It includes tactics that the organization plans to use to achieve what’s outlined in the strategic plan. Often, the scope is less than one year and breaks down the strategic plan into actionable chunks.

4. Contingency:

Contingency planning can be helpful in circumstances that call for a change. Although managers should anticipate changes when engaged in any of the primary types of planning, contingency planning is essential in moments when changes can’t be foreseen