Planning takes place in all organizations and at all levels, from simple plans, to detailed, formal plans. Most planning is carried out by middle management in larger organizations, and by people who run their own businesses. In this course, part of the Business Planning Series, you'll be introduced to the importance of business planning and the difference between long-term corporate planning and shorter-term business planning. In the process you'll learn about strategic and tactical planning, the role of corporate vision and strategy play in business planning, and the appropriate time horizon for planning.