Briefly describe the nature of Planning Process and its necessity for an organisation. Explain different types of planning and their requirement.  

Planning is an essential management function that involves setting goals and objectives, identifying resources, and developing strategies to achieve those goals. The planning process is crucial for any organization as it helps to ensure that resources are used effectively and efficiently, and that the organization is able to meet its objectives. Here is a brief overview of the nature of the planning process and its necessity for an organization:

Nature of the Planning Process:

The planning process is a continuous cycle that involves several steps, including:

1. Setting goals and objectives: The first step in the planning process is to set clear and specific goals and objectives that the organization wants to achieve.

2. Analyzing the environment: The second step is to analyze the internal and external environment to identify potential opportunities and threats, as well as strengths and weaknesses.

3. Developing strategies: The third step is to develop strategies that will help the organization achieve its goals and ______ __________ ___ ______ _____ ___ ________ _______ _________ _____ _____.
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