Explain various types of planning. What are the different types of plans we need for managerial functions?

We can divide planning on the basis of activity covered and on the basis of importance.

• On the basis of activity covered: 

1. Corporate Planning:
2. Functional Planning

• On the basis of importance:

1. Strategic planning
2. operational planning

• Proactive planning and reactive planning:

• Formal and informal planning:

Different types of plans:

• Standing plan:

• Strategic plan:

• Operational plan:

• Tactical plan:

• Contingency Plans