BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Tactical plans specify how a company will use its resources, budgets, and people to accomplish specific goals within its mission. The three kinds of operational plans are single use plans, standing plans, and budgets.

Detailed explanation-2: -Strategic planning is a process in which an organization’s leaders define their vision for the future and identify their organization’s goals and objectives. The process includes establishing the sequence in which those goals should be realized so that the organization can reach its stated vision.

Detailed explanation-3: -An organization’s top management most often conducts strategic planning. Tactical planning is intermediate-range (one to three years) planning that is designed to develop relatively concrete and specific means to implement the strategic plan. Middle-level managers often engage in tactical planning.

Detailed explanation-4: -Why is planning important? It helps us to identify our goals clearly. It makes us decide clearly and concretely what we need to do to have the effect on society that we want. It helps us make sure that we all understand our goal and what we need to do to reach it by involving everyone in the planning process.