Planning
Planning is the management function that involves setting goals and deciding how to best achieve them. Setting goals and developing plans helps the organization to move in a focused direction while operating in an efficient and effective manner. Long-range planning essentially is the same as strategic planning; both processes evaluate where the organization is and where it hopes to be at some future point. Strategies or plans are then developed for moving the organization closer to its goals. Long-range plans usually pertain to goals that are expected to be met five or more years in the future.
People often confuse the role of planning and scheduling. They are different methodologies and utilize a different set of tools. Planning takes a futuristic view and sets anticipated timelines, while scheduling focuses on an organization's day-to-day activities. For example, most enterprise resource planning (ERP) systems are good at the planning function, but are very poor at the scheduling function. A tool like finite capacity scheduling (FCS) is necessary to facilitate the daily tracking of material and labor movements.
Long-Range Planningand Strategic Management
Since the purpose of strategic management is the development of effective long-range plans, the concepts often are used interchangeably.
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