Explain the concept of "reverse planning" and how it can be used to work backward from a desired outcome to develop effective strategies.
Explain the concept of "reverse planning" and how it can be used to work backward from a desired outcome to develop effective strategies.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Explain the concept of "reverse planning" and how it can be used to work backward from a desired outcome to develop effective strategies.
Expert Solution
Step 1: Define Planning
The process of relating goals, detailing the conditioning needed to negotiate those pretensions, and organizing coffers and tasks in a regular and purposeful manner is known as planning. It entails establishing what has to be done, when it should be done, and how it should be done, all with the thing of achieving asked issues or objects as efficiently and effectively as possible.
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