About This Chapter
Principles of Business Planning - Chapter Summary
This self-paced chapter offers an entertaining refresher of the principles of business planning. Review a variety of lessons developed by expert instructors to ensure you fully comprehend different planning techniques. Once you've finished this chapter, you will be ready to:
- Discuss the importance of business plans
- Describe planning as a function of management and explain how planning is used to achieve organizational goals
- Differentiate between strategic, tactical, operational and contingency planning
- Define and share an example of a business disaster recovery plan
Each lesson in this chapter is available 24/7 and can be viewed using any computer or mobile device with an Internet connection. Taking advantage of this flexibility ensures you're able to study whenever and wherever your schedule permits. If you need help understanding concepts covered in the lessons, feel free to submit your questions to our experts. Our short quizzes and practice exam make it easy to ensure you have a comprehensive understanding of the principles of business planning.
1. Why Are Business Plans Important?
In this lesson, we'll define a business plan, talk about why a business plan is important, and explore its major components. We'll also discuss what information is useful to external and internal users.
2. Planning as a Function of Management
In this lesson, you will learn the role of planning as a function of management. Discover the advantages of and barriers to planning, and how it is used to achieve organizational goals.
3. Types of Planning: Strategic, Tactical, Operational & Contingency Planning
This lesson will explain the four types of planning used by managers, including strategic, tactical, operational and contingency planning. Terms, such as single-use plans, continuing plans, policy, procedure and rule, will also be defined.
4. What Is a Business Disaster Recovery Plan? - Definition & Example
Do you know what will happen if a disaster strikes your business? Will your company respond in the best way to protect employees, customers, facilities and data? Read on to learn what a disaster plan is and how you can create one for your company.
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