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Planning function for competitve advantage

The managerial function of planning helps an organization's competitive advantage by (1) identifying opportunities, (2) anticipating problems and (3) developing strategies to take advantage of the opportunities and challenges it encounters.

Identify an organization and provide an example of strategic planning and one example of functional-level planning. What are the differences in decision-makers, risk, cost, timeframe, and profit potential of decisions being made at various levels in the organization (e.g., corporate, business, or functional

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Planning

The managerial function of planning helps an organization's competitive advantage by (1) identifying opportunities, (2) anticipating problems and (3) developing strategies to take advantage of the o ...there is moreshow problem
The managerial function of planning helps an organization's competitive advantage by (1) identifying opportunities, (2) anticipating problems and (3) developing strategies to take advantage of the opportunities and challenges it encounters.

Identify an organization and provide an example of strategic planning and one example of functional-level planning. What are the differences in decision-makers, risk, cost, timeframe, and profit potential of decisions being made at various levels in the organization (e.g., corporate, business, or functional)

Brief on Planning

As per tutor2u.net, Planning is the process of"
* Setting objectives
* Determining what should be done to accomplish them
* Implementing the plan
* Evaluating

A plan is a statement of intended means to accomplish a goal. "Hence planning provides a blueprint to the organization telling about the actions to be taken in future. Plans will be successful only if it clearly defines the market of the business idea. For example Passenger Vehicle Market is broad and vague. It has to be defined specifically in terms of target segment. For example Premium Passenger vehicles or Hybrid vehicles.

Hence Planning is important to managers within an organization due to following reasons:

a) It aids in guidance to the management about the future course
b) It will help in optimal utilization of the resources by controlling the action and thereby helps to take the corrective action.
c) It helps in coordination between different departments
d) It ...

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Planning function for competitve advantage

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