Question

Relationship between planning and decision making in resource allocation in the strategic planning process

Answer 1

Strategic planning is a well planned process which involve certain steps to carry out a function properly. It is used in the field of work and in day to day life also. Planning and decision making are the key steps of strategic planning . They are interrelated to each other .

Planning is defined as the process of making / planning different course of action (regarding any aspect like resource allocation )

Decision making is defined as the process of selecting a course of action from the alternatives available.(decision is made about resource allocation from the alternatives that where the indent has to be utilized)

Both of them needs to be accurate for the easy flow of strategic planning and to accomplish the goal . Further it will lead to the welfare of organisation .