In a short essay, define planning and compare formal and informal planning as they are used in various organizations

What will be an ideal response?

Answer: Planning involves defining the organization's goals, establishing an overall strategy for achieving those goals, and developing a system to implement that strategy. Planning is concerned with both ends and means.

All managers engage in some form of planning whether it is formal or informal. In informal planning, little or nothing is written down and there is little or no sharing of goals with others within the organization. This type of planning is often done in small businesses where the owner-manager has a vision of where he or she wants the business to go and how to get there.

In formal planning, goals and plans covering a specific period of time are developed. These goals and plans are written and shared with organizational members. Specific programs exist in formal planning to achieve planning goals; that is, managers clearly define the path they want to take and the actions they will carry out to reach their goals.