planning
1. Discuss the relationship between long-term, strategic and corporate planning.
2. Discuss the importance of all three to the success of an organization.
Longg term planning: Long-term planning entails setting goals that take more time and effort to achieve; they often take a year or two or longer.
They strive to find long-lasting solutions to problems and achieve and sustain success.
Strategic planning: Leaders of a company develop their future vision and determine their organization's goals and objectives through the process of strategic planning.
Establishing the order in which these objectives should be accomplished can help the organisation attain its stated vision.
Corporate plannig: A more complicated corporation with numerous business units or subsidiaries is guided by a corporate plan.
It explains the direction the business as a whole is going and provides a road map to get there.
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