Definition:Strategic planning is the process of defining the key directional elements of an organization. It is the general map given by the executives that allows the entire organization to maintain the right path in their daily decisions.
Strategic planning is forward looking. It differs from traditional business planning, which typically focuses on short-term, tactical goals, such as how a budget is divided up. The time covered by abusiness plancan range from several months to several years. The product of strategic planning is ...
Definition: Strategic Planning can be understood as a systematic long-range planning activity, that an organization uses to fix priorities, strengthen operations, ascertain objectives and focus on the resources required and are to be allocated in order to pursue the strategy and attain the objectives....
A profession, such as planning, needs an explicit definition, a satisfactory something to profess. The purposes such a definition must serve are touched upon, but whatever other characteristics the definition has it must be "strategic," that is, adapted to the internal and external necessities of...
Definition: Planning is the fundamental management function, which involves deciding beforehand, what is to be done, when is it to be done, how it is to be done and who is going to do it. It is an intellectual process which lays down an organisation’s objectives and develops various cour...
Incentive plans for upper management is applicable to executive employees. For example, a controller for maintaining very high cash flow during difficult times will receive company stock options for such an exceptional performance. Hence, this concludes the definition of Incentive Plan along with its ...
Succession planning is a process for identifying and developing internal people with the potential to fill key leadership positions in the company.
Information technology is a key part of developing an effective strategic plan, itself essential to strategic innovation. Look at thesefree IT strategic planning templatesthat can help make IT a driving force in a business. Learn how toassess an organization's needs and implement a technology strat...
This definition of self-management has its roots inemotional intelligence theory, where this capability may also be referred to as self-regulation. Self-regulation is supported by ourcapacity for self-awareness, which helps us create conscious access to our thoughts, desires, and feelings. Only onc...
Definition of planning in management What is the importance of operational planning? What is the difference between planning and strategy? What operational plans are evident in the scenario? What is Strategic Planning? What is enterprise resource planning?