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The importance of planning in business management

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CSW COLLEGE

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  1. Tailored plans for each organization
  2. Management by objectives
  3. The strategic management process

Within any large or small organization, planning is usually an essential step towards ensuring that organization's long-term success. There is a famous saying that suggests the importance of planning: "When you fail to plan, you plan to fail". In other words, planning, especially formal planning, is usually an essential step that managers often fail to take and face the consequences as a result. Planning, defined as a way to achieve, "the organization's objectives or goals, establishing an overall strategy for achieving those goals, and developing a comprehensive hierarchy of plans to integrate and coordinate activities", (Robbins & Decenzo 88) is a process that all managers should take into account on a daily basis, whether working on a small project or making a major change within their organization.

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