Wednesday, 19 April 2017

Concept of corporate planning in MIS

•        A plan is predetermined course of action to be taken in the future.
•        The goals and objectives that a plan is supposed to achieve, are the pre-requisites of the plan.
•        Planning is a dynamic process. As the future becomes present reality, the course of action decided earlier may require a change.
•        Planning involves a chain of decisions, one dependent on the other, since it deals with a long term period.
•        Long Range
•        A period of five or more years.
•        Deals with resource selection, acquisition, allocation.
•        Short Range
•        For one year at most.

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