Planning Levels Fashion
PLANNING LEVELS
In large retail firms, plans are developed at different organizational levels, including corporate. divisions. functional units. and departments. Managers at each level are responsible for developing and executing specific types of plans, all directed towards accomplishing the same mission.
Corporate- Level Plans
The chief executive officer (CEO) and other top-ranking executives at the highest corporate level plan strategically. Corporate executives assess the position of their retail organization and develop long-term goals and strategies. Strategic planning involves a process that begins with a description of i the type of business and mission, which includes market segments served; : its image; and statements of commitment to excellence in areas of customer . relations, merchandising, marketing, and service. The mission serves as the foundation for all planning in the organization. Strategic planning requires an assessment of the economic environment and an analysis of the retailer's strengths, weaknesses, opportunities, and threats (SWOT). From this analysis, strategic plans related to marketing and financial objectives are formulated around profit, position, products, brands, size, stores, and customer base.
Division-Level Plans
In retail environments, divisions are composed of different functional units separate from each other. At this level, planning is required to integrate, coordinate, and align the functional groups' diverse activities with the corporate mission. Depending on the size of the company, individuals at this level are responsible for formulating both long-term strategic plans and short-term operational plans related to functional units in their divisions. Divisional plans include tactics directed towards defining, in concrete terms, how the functional operating units will accomplish corporate goals
Functional-Unit Plans
Managers in functional units develop short-range operating plans that outline
In large retail firms, plans are developed at different organizational levels, including corporate. divisions. functional units. and departments. Managers at each level are responsible for developing and executing specific types of plans, all directed towards accomplishing the same mission.
Corporate- Level Plans
The chief executive officer (CEO) and other top-ranking executives at the highest corporate level plan strategically. Corporate executives assess the position of their retail organization and develop long-term goals and strategies. Strategic planning involves a process that begins with a description of i the type of business and mission, which includes market segments served; : its image; and statements of commitment to excellence in areas of customer . relations, merchandising, marketing, and service. The mission serves as the foundation for all planning in the organization. Strategic planning requires an assessment of the economic environment and an analysis of the retailer's strengths, weaknesses, opportunities, and threats (SWOT). From this analysis, strategic plans related to marketing and financial objectives are formulated around profit, position, products, brands, size, stores, and customer base.
Division-Level Plans
In retail environments, divisions are composed of different functional units separate from each other. At this level, planning is required to integrate, coordinate, and align the functional groups' diverse activities with the corporate mission. Depending on the size of the company, individuals at this level are responsible for formulating both long-term strategic plans and short-term operational plans related to functional units in their divisions. Divisional plans include tactics directed towards defining, in concrete terms, how the functional operating units will accomplish corporate goals
Functional-Unit Plans
Managers in functional units develop short-range operating plans that outline