Types of Plans and the Role of Ethics in Strategic Planning

Plans and their Types
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Plans and their Types
Different Types of Plans
There are four types of plans. First, strategic plans are long-term, big-picture plans setting the business's overall vision. Secondly, tactical plans are shorter-term, more specific plans that detail how the organization will achieve its strategic objectives. They answer the question, "How are we going to get there?" Thirdly, operational plans are the plans that get the organization to where it wants to go. They outline what needs to be done to reach its strategic objectives. Finally, contingency plans deal with possible problems or unexpected situations that could arise during the execution of an organization's strategy. They help ensure the organization is prepared for whatever comes it is way (Kraus et al., 2018).
Plans with Incremental Objectives versus Plans with Stretch Goals
Plans with incremental objectives are more reliable because they provide a clear path forward and allow for more accurate for...