Plans commit the various resources in an organization to specific outcomes for the fulfillment of future goals.Many different types of plans are adopted by management to monitor and control organizational activities. Threesuch most commonly used plans are Hierarchical, frequency-of-use (repetitiveness) and contingency plans.
•Involves analyzing competitive opportunities & threats, as well as the strengths & weaknesses of the organization, & determining how to position the organization to compete effectively in their environment.
•Creates the blueprint for the lager strategic plan. These plans are often short term and are carried out by middle- level managers.
•Covers the entire organization’s goals & objectives and puts into practice the ways & action steps to achieve the strategic plans. Very short term plans, usually less than a year.