planning
Definition
Basic management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. The planning process (1) identifies the goals or objectives to be achieved, (2) formulates strategies to achieve them, (3) arranges or creates the means required, and (4) implements, directs, and monitors all steps in their proper sequence.
Featured Tip
A Chinese Perspective on Growth
If you are planning for one year, grow rice. If you are planning for 20 years, grow trees. If you are planning for centuries, grow men. (a Chinese Proverb)
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