Discuss The Purpose Of Planning Business Essay Example

for each section and for each person to contribute to achieving tactical and strategic programs. Planning is conducted at three levels of the administration.

The company's top-level directors, who are also the CEOs, primarily engage in strategic planning for the administration. This kind of planning is focused on long-term goals and provides direction. It is mainly used for individual purposes such as budget plans. On the other hand, middle-level directors undertake strategic as well as operational planning for the administration. Finally, front-line directors play a key role in operational planning.

These planning types are short term, typically lasting for one or two years, and are detailed or specific. Operational plans are also ongoing and provide guidance for activities such as policies and procedures. Objective setting is the process of determining specific steps or milestones that allow an organization to achieve a goal. Setting objectives requires a continuous process of research and decision-making.

Understanding oneself and one's team is a crucial starting point in establishing objectives. Setting appropriate objectives is essential for effective performance management. While goals such as increased profits, shareholder value, and customer satisfaction may be commendable, they do not provide managers with specific instructions.