1. Corporate And Long Range Plans

3. What is planning ??? Planning is all about deciding on and arranging things in advance. Planning process is continuous and never-ending. -such as in the form of a plan, a program, or a project -the assumptions used in the planning process inevitably undergo revisions and trigger a chain reaction throughout the stages or sequences of a plan.

4. Why planning is important ??? A goal without a plan is just a wish. - Antoine de Saint exupery To achieve great things ,two things are needed ; a plan , and not quite enough time - Leonard Bernstein

5. The Concept of Corporate Planning Corporate planning is the total planning. A formal and systematic process to ensure that long-range, intermediate and annual planning is carried out regularly within the organization. Programs and projects that evolve out of these processes just have logical and contributory linkages to the goals and objectives of the corporate plan.

6. Three levels of planning make up corporate planning: Firstly, Strategic or long-range planning. This is made by top management and senior divisional heads. Secondly, tactical or development planning. This is made by operating management. It is intermediate in terms of scope and consists of programs. Thirdly, annual operating planning. This is made by all functional units within the strategic, policies and guidelines mandated by top management.

7. The process of Strategic Planning For determining what the organization might do, we make an analysis of the external environment in which the organization operates. This type of analysis should cover a minimum span of 5-10 years’ projection, and should probably be repeated once every three years.

8. A company without a comprehensive corporate plan is wandering aimlessly. Regarding the implementation process, Nike said it best in their advertising campaign of some years ago, "Just Do It". Don't wait. Do it now. Stockholders want to see a management team who has vision and who knows how to implement and control this vision.