This document discusses key concepts in planning, including defining planning, the importance of planning, different types of planning (strategic, tactical), and the planning process. Planning is defined as setting objectives to be accomplished in the future and deciding how to reach them. It helps reduce uncertainty, make objectives clear, and coordinate activities. There are two main types of planning: strategic planning for top managers focuses on the organization's overall direction, while tactical planning for middle/lower managers focuses on tasks to achieve objectives. The planning process involves appraising the current position, setting objectives, and developing plans to achieve objectives. Objectives can be organizational, managerial, or individual. Effective planning is important for an organization's success.