Organizations plan by conducting analysis, review and evaluation of the environment surrounding the business to determine the strategic goals. They take input from the stakeholders of the company including the customers, the business partners, the shareholders as well as the management for the feasibility of the plans. The basic steps that are followed by organization when planning pertain to first analyzing the current situation, then assessing the responses and feedback from the stakeholders on the current situation. The future desired scenario is then discussed and described to determine what needs to be done. The goals and objectives are set as the aims of the plans. From here on strategies and activities are devised which are to help implement the plan and monitor their results.
Planning is important for an organization as it helps the organization facilitate the goal and objective achievement, facilitates the assessment of the goals and objectives, and enables the organization to identify any risks or prospective losses. The purpose of the goals is to set a direction for the business and focus the energies to follow the set direction. Good planning can help make managers make good decisions while enabling them to carry out job at hand can be carried out effectively and efficiently. Moreover planning can help the organization determine the opportunities that it might have or the threats that it night be facing.
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