Planning and types,”defining the organization’s objectives or goals, establishing an overall strategy for achieving those goals
and developing a hierarchy of plans to integrate and coordinate activities. 2 ways of planning:o Formal planning.Defining specific goals covering a specific periodWriting down these goals and making them available to organization membersUsing these goals to develop specific plans that clearly define the path theorganization will take to get from where it is to where it wants to be.o Informal planning.Little is written downWhat is to be accomplished is in the heads of peopleThe organization’s goals are rarely verbalizedIt describes the planning that takes place in many smaller businesses.Planning is general and lacks continuity”