Types of Planning (4)
Functional Planning: Functional planning is of segmental nature and is undertaken for each major function of the organization like production/operations, marketing, finance, human resource, etc. At the second level, functional planning is undertaken for sub-functions within each major function. For example,
marketing planning is undertaken at the level of marketing department and to put marketing plan in action, planning at sub-functions of marketing like sales, product promotion, marketing research, etc. is undertaken. A basic feature of functional planning is that it is derived out of corporate planning and,
therefore, it should contribute to the latter. This contribution is achieved by integrating and coordinating functional planning with corporate planning.