This document discusses planning and decision making in management. It describes planning as an intellectual process that involves determining actions in advance based on analyzing facts to select the best alternative from available options. The key types of plans discussed are standing plans like objectives, policies, procedures, strategies and single use plans like programs and budgets. Advantages of planning include focusing on objectives, minimizing uncertainties, and better coordination. Limitations include lack of accuracy, costs, and rigid plans not adapting to changes. Decision making is defined as the process of choosing the best course of action and involves problem definition, alternative analysis, selection, implementation, and follow up.