Corporate Planning may be defined as the process of deciding long term goals and objectives within the ambit of organisation's strength and weaknesses in the existing and prospective environmental setting to ensure their achievement either by integrating the short term and long term plans or by adopting such measures which may bring even structural changes in the composition of the [...]
Planning enables management to command the future rather than being swept away by future. In a fast changing environment the need for planning is all the more important because risk and uncertainty increase. In such an environment contingent plans can be prepared. A plan may be defined as detailed course of action designed today to do something tomorrow. Thus, planning [...]
Strategic planning can be defined as the process of developing and maintaining a strategic fit between the organisation’s goals and capabilities and its changing marketing opportunities. Strategic planning or strategizing is essentially a task of choice, i.e., to decide what to do and what not to do to achieve organisational goals. Every company has to do strategic planning, although the [...]