Planning and managing organisations/PMAN103/Planning and strategy/Overview

After managers set goals and define objectives in line with the organization's mission and overall vision, the next step is to translate these into a plan. In their planning function, managers identify the resources they need (e.g. people, finances, equipment, etc.) and organize them so employees can accomplish tasks and meet set objectives.

Once a plan is in place and the appropriate resources have been allocated, managers must strategize. Strategic management means deciding what the organization is willing and not willing to do to make its mission a reality. It is the sum total of all the activities undertaken to implement the plan and, ultimately, reach the goals and objectives set by the organization.