The types of plans that would be useful for company L along with the reasons stating the importance of these plans. Introduction: Planning for any organization is very important as it allows the organizations to deal with all types of typical situations. Strategic planning allows the organizations to formulate policies and principles which are in the direction of achieving organizational success. Strategic planning allows the organization to not only merely respond to the circumstances but instead it allows the organization to forecast the possibilities and circumstances of the future. Hence, planning for an organization is essential to ensure the stability and success of the organization.

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Chapter 8, Problem 16DQ

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To determine:

The types of plans that would be useful for company L along with the reasons stating the importance of these plans.

Introduction:

Planning for any organization is very important as it allows the organizations to deal with all types of typical situations. Strategic planning allows the organizations to formulate policies and principles which are in the direction of achieving organizational success. Strategic planning allows the organization to not only merely respond to the circumstances but instead it allows the organization to forecast the possibilities and circumstances of the future. Hence, planning for an organization is essential to ensure the stability and success of the organization.

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