KINDS OF PLANNING
Organizational level Focus Time period
Corporate Strategic Long range
Divisional Operational Medium range
Functional Tactic Short range
ORGANIZATIONAL PLANNING
Corporate planning or top level planning: It lays down the objectives, policies and strategies of an organization. Usually made for a longer time period.
Divisional planning or middle level planning: It is related to a particular department or division. It lays down the objectives, policies and strategies of a department.
Sectional planning or lower level planning: focused on laying down detail plans for the day to day guidance.
FOCUSED PLANNING
1.Strategic planning: deciding the objectives and to decide the resource marshalling in order to realize the objectives. Done by the top management.
2.Operational planning: ensuring efficient use of resources and to develop a control mechanism so as maximum efficiency is ensured.
3.Tactical planning: made for short term moves. Required to meet the sudden changes in the environment forces.
TIME PERIOD PLANNING
1.Long range planning: for a period of five years at least. Involves capital budgeting, product planning, project planning etc. deals with a great uncertainty.
2.Medium range: for one to five years. Relate to development of new products and markets, product publicity etc. supportive to long range plans.
3.Short range: upto one year. Made to achieve short term goals. Focused on the internal environment of the business.
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