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Informal planning is when very little is written down often leading to discontinuity. This means that the goals are only known to a number of people and is usually used in smaller businesses.
Outside forces such as technology, society, economy, and legal changes can affect business planning. To maintain stability, a business manager needs to know how to face these changes to avoid failure. Therefore effectiveness in planning is essential. There are different types of plans that can be used to deal with the dynamic environment. They are strategic, tactical, specific, directional, single use, and standing...
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