Chapter

6.2. Planning*

From IntroductionToBusiness OP 8D04gAa

Concepts

1. What are the four types of planning?

   "Planning begins by anticipating potential problems or opportunities the organization may encounter. Managers then design strategies to solve current problems, prevent future problems, or take advanta

2. What is strategic planning and how does it shape an organization?

   "Strategic planning involves creating long-range (one to five years), broad goals for the organization and determining what resources will be needed to accomplish those goals. An evaluation of externa

3. What is the role of a mission statement in planning?

   "An organization’s mission is formalized in its mission statement, a document that states the purpose of the organization and its reason for existing. For example, Twitter’s mission statement formaliz

4. How do tactical and operational planning implement strategic goals?

   "Tactical planning begins the implementation of strategic plans. Tactical plans have a shorter (less than one year) time frame than strategic plans and more specific objectives designed to support the