ENT 201 Chapter Notes - Chapter 15: Planning Areas Of Singapore, Swot Analysis
Document Summary
Meaning and importance of planning for an organization. The planning of a company consists in the development of a plan that must be carried out after an exhaustive analysis of the organization and its environment. Its purpose is to establish the objectives and strategies necessary to achieve success, hence the importance of planning. In one of his famous phrases, benjamin franklin declared: "by not preparing, you are prepared to fail. " Just as planning is necessary in personal life, it is also very valuable in business. Organizations can benefit from developing and implementing a good strategic plan that will become the basis of their medium and long-term success. Planning can be defined as a well thought out process with a methodical and structured execution, in order to obtain a specific objective . We can say then that when planning a course of action focused on achieving previously defined objectives is established.
