ENTREPRENEURSHIP

Detailed explanation-1: -Organizational planning is the process of defining a company’s reason for existing, setting goals aimed at realizing full potential, and creating increasingly discrete tasks to meet those goals. Each phase of planning is a subset of the prior, with strategic planning being the foremost.

Detailed explanation-2: -Definition. Planning, Organizing and Coordinating involves proactively planning, establishing priorities and allocating resources. It is expressed by developing and implementing increasingly complex plans. It also involves monitoring and adjusting work to accomplish goals and deliver to the organization’s mandate.

Detailed explanation-3: -Managers must first plan, then organize according to that plan, lead others to work towards the plan, and finally evaluate the effectiveness of the plan. These four functions must be performed properly and, when done well, become the reason for organizational success.

Detailed explanation-4: -Planning (also called forethought) is the process of thinking about and organizing the activities required to achieve a desired goal. It involves the creation and maintenance of a plan, such as psychological aspects that require conceptual skills.