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What is involved in planing? Is planning important skill tha

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What is involved in planing?
Is planning important skill that every manager must have?

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What is involved in planing?
Is planning important skill that every manager must have?

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Managerial planning is a multi-step process that begins with management establishing their objectives. A thorough analysis of the internal and external processes of the business is conducted, and based on the results of the analysis, a set of strategic objectives is formed. This step also includes setting organizational goals, which include short-term and long-term goals. The goals and objectives need to be attainable, and workable.

The second step in planning is to establish the exact premises, based on the evaluation by management. The premises will be divided into two categories, internal and external. The external premises are the conditions that management cannot control, including the economy, industry trends, and other external factors. The internal factors are the factors that management can directly control. This step involves identifying ...

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