Essay On Importance Of Planning In An Organization

738 Words2 Pages

Organizational Goals Accomplished by Plan Developing Companies and organizations create plans in order to succeed and grow. According to the article The Importance of Planning in an Organization, in order for organizations to meet the goals they set for themselves they need to plan. There are different types of planning used by organizations. There are two types of planning that I will be focusing on that are used by organizations that assist them with achieving their goals and when it’s appropriate to use each type of planning. Two Types of Planning
Organizations tend to use many types of planning in order to help them reach the goals that they set out for themselves. “Planning involves envisioning the results the organization wants to …show more content…

“Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization’s direction in response to a changing environment” ("Basics of Strategic Planning," 2016). This particular type of planning helps the organization focus on a defined set of goals and allows them to adjust their goals depending on the environment. Strategic planning should follow guidelines. In order for strategic planning to succeed, an organization needs to be ready to succeed. “But even when there are good reasons to do it, the organization still needs to be prepared to engage in a successful process” (Bryson & Alston, 2011). Financial planning will be the other type of planning I will be discussing that organizations use. Financial planning will allow an organization to predict the growth of the organization as well as future profits. “Financial planning is looking at long-term profitability in order to create a greater return on assets, an increase in market share, and being able to look and see future

Open Document