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Planning is a management function that involves making decisions about goals and activities to be pursued in the future by an organization. It is a purposeful effort directed and controlled by top executives and draws on knowledge and experience throughout organization. Effective planning helps organizations adapt to change by identifying opportunities, improving decision-making and avoiding crises. Planning sets the direction for other functions of management and for teamwork. All levels of management engage in planning.
Strategic planning is the process of developing and analyzing the organization's mission, goals, strategies, and allocation of resources. A strategy is a course of action designed to achieve long-term goals. Strategies may take two, three, or as many as five years to implement. The length of time is generally determined by how far in the future the organization is committing its resources. Goals are the ends that the organization strives to attain. Many companies......

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Approximate Word Count: 1388
Approximate Pages: 6 (250 words per double-spaced page)

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