Chapter 1, Problem 20RQ

Explanation of Solution

Levels of planning:

There are three levels of planning. They are,

• Strategic planning:
• It is also known as top level or overall planning.
• The governing body or the board of directors is given the burden of strategic planning.
• It covers the long-range objectives and policies or organization and is concerned with corporate results rather that sectional objectives. The strategic planning might be called the “what” of the planning.
• Tactical planning:
• It is also known as second level planning.
• It might be called the “how” of the planning.
• It is generally carried out by the middle level managers or departmental heads.
• It is mainly concerned not exclusively, with long range planning.
• But its nature is such that the time spans of tactical planning are very much shorter than that of strategic planning...