Market-oriented strategic planning is the managerial process of developing and maintaining a viable fit between the organisation's objectives, skills, and resources and its changing market opportunities. The aim of strategic marketing planning (SMP) is to shape and reshape the company's businesses and products so that they yield target profits and growth." Strategic planning takes place at four levels- Corporate, division [...]
Everything you need to know about the definitions of planning. Planning is the first primary function of management, followed by other functions. Planning is the process of deciding the objectives to be achieved and selecting the ways and means of achieving the pre-decided objectives. We can say that it is a process of decision-making regarding what to do, how to [...]
Everything you need to know about the limitations of planning. Planning is a primary managerial function and an essence of doing business activities. In the absence of plans, employees work in different directions and it becomes impossible to achieve organisational goals. However, even the best of plans may go wrong because of unforeseen events and changes in the business environment. [...]