Planning in management is a fundamental and crucial process that entails setting objectives, identifying resources, and establishing a roadmap to achieve organizational goals. Effective planning provides a clear direction for decision-making, resource allocation, and execution. It involves various stages, such as strategic planning, tactical planning, and operational planning, each with its own time horizon and level of detail. Strategic planning sets the long-term vision and goals, while tactical planning focuses on medium-term actions and resource allocation. Operational planning, on the other hand, deals with the day-to-day activities and ensures that they align with the broader strategic and tactical objectives. Question: How does an organization strike the right balance between long-term strategic planning and short-term operational planning to ensure sustained success and adaptability in today's rapidly changing business environmet?nt
Planning in management is a fundamental and crucial process that entails setting objectives, identifying resources, and establishing a roadmap to achieve organizational goals. Effective planning provides a clear direction for decision-making, resource allocation, and execution. It involves various stages, such as strategic planning, tactical planning, and operational planning, each with its own time horizon and level of detail. Strategic planning sets the long-term vision and goals, while tactical planning focuses on medium-term actions and resource allocation. Operational planning, on the other hand, deals with the day-to-day activities and ensures that they align with the broader strategic and tactical objectives.
Question: How does an organization strike the right balance between long-term strategic planning and short-term operational planning to ensure sustained success and adaptability in today's rapidly changing business environmet?nt
Step by step
Solved in 3 steps
