Planning helps organizations ensure that they have the resources and procedures in place to accomplish long-term objectives.

Strategic Planning

Explanation:

Strategic planning is the process where we document, evaluate and establish a direction for the business by assessing both where the business in standing now and where it is heading towards. It basically answers two main questions that *what business you are in and *what business you could be in. In strategic planning, organization evaluate its internal strengths and weaknesses and then compare it the outside environment posed opportunities and threats. It comprises of the following steps:

* Vision and direction is set.

*Goals are formulated in order to achieve that vision.

*Goals are translated into objectives.

*Strategy is formulated to attain those goals.

*Implementation of the strategy.

*Evaluation and Control

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