3.1 Definition of Planning Process: Planning Process is the series of steps businesses take to determine how they will achieve their goals.

Businesses consist of many functions, such as marketing, finance, and operations. These business functions can be considered systems, a group of interacting related parts that perform a specific function.

Business planning a decision process for people and businesses to manage systems to achieve an objective. By understanding the systems that influence a business and making decisions based on that understanding,businesses increase the

likelihood of a desired outcome,such as increased market share or higher profits.

All businesses, from a one-person shop to a large multinational conglomerate, should engage in the planning process. The complexity of the process can depend on the size of the business and the number of different products and services offered. Large businesses may have multiple committees to initiate, review, and approve plans, yet a single individual may handle that function at a small business.

The length of time addressed by business planning also differs,based on the nature of competition in the specific business market and the characteristics of the products or services the business offers.

However,business planning is an ongoing effort and typically addresses some specific short-term objectives as well as some longer-term objectives. A short term may be weeks or months for some high-tech products, but a short term may also be a year or more for major capital goods such as large appliances or automobiles.

The aim of business planning is the creation of a business plan.

A business plan lists a written document that defines the operational and financial objectives of a business over a particular time. A marketer contributes a variety of inputs to the business plan, including the following: marketing environment.

An explanation of what the marketing function is attempt.