What Is the Meaning of Corporate Planning?

Corporate planning revolves around collaboration of all top leaders.
Corporate planning revolves around collaboration of all top leaders. (Image: LDProd/iStock/Getty Images)

Corporate planning is the process by which leaders set the course to achieve objectives. It includes budgeting, allocation of resources, development of strategies and delegation of responsibilities to various departments. Company executives typically go through formal strategic planning annually. Leaders use common tools to assess how the corporation can best fulfill its mission by taking advantage of opportunities and optimizing resource efficiency.

SWOT Analysis

A central tool used in corporate planning is the SWOT analysis. SWOT is an acronym for strengths, weaknesses, opportunities and threats. By assessing current strengths and weaknesses, leaders recognize what to leverage in preparation for seizing opportunities. An elite service provider would emphasize service improvements in planning, for instance. Recognition of threats helps identify strategies and tactics that are doomed to fail.

Related Searches


Promoted By Zergnet


You May Also Like

Related Searches

Check It Out

Are You Really Getting A Deal From Discount Stores?

Is DIY in your DNA? Become part of our maker community.
Submit Your Work!