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What is the definition of planning and give advantages under corporate strategy and planning?
Wiki User
∙ 8y ago
A crucial management function connecting formulation of one or more detailed plans to reach most advantageous balance of requirements or demands with the obtainable resources. The planning procedure identifies the goals or objectives to be accomplished, originates strategies to attain them, assembles or creates the earnings required and put into practices, directs, and scrutinizes all steps in their appropriate succession.
Strategic planning at a standstill has the association of a process that is distinct, detach, and independent from the organization. At the same time as strategic management connotes the arrangement, implementation, assessment, on-going upholding, and adjustment of the organization's strategy. Strategic management is an important aspect of an organization's business and not immediately a once per every three-year withdraw.
The Advantages of Strategic Management
· liberates board accountability
· strengths intention consideration
· supplies framework for decision making
· supports perceptive
· enables dimension of development
· make available an managerial viewpoint
Wiki User
∙ 8y ago
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