Planning And Decision Making Process Essay

1146 Words Jun 22nd, 2016 5 Pages
The Planning and Decision Making Process
Effective planning and decision making have always been an essential part of any successful business, however, with today’s increasingly complex, globalized business environment these skills are more important than ever. All levels of management are expected to take part in the planning and decision making processes to help guide the organization in reaching its goals, vision and spelling out where it wants to be in the future. Sound decision making is also required to help carry out these plans, run the day-to-day operations, respond to problems, situations and events that were not planned for.
Steps in the Planning Process
Planning is preparing for the future. It provides direction, a unity of purpose for organizations and includes five key managerial responsibilities; construct, review and/or rewrite the organization 's mission, identify and analyze opportunities, establish goals, identify, analyze, and select the course or courses of action required to reach the goals and determine resources needed to achieve the goals (Plunkett, Alan, and Attner, 2013. p. 88). The planning process is a road map that helps guide management in creating an effective plan and should be used whether creating a strategic, tactical or operational plan. However, Plunkett et al. (2012) further differentiates the process used in strategic planning as opposed to tactical and operational.
The strategic planning process consists of six steps; create…

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