This document discusses the functions of management, with a focus on planning. It defines planning as setting organizational goals, strategies, and action plans. Planning provides direction, reduces uncertainty, and allows managers to consider future events. The importance of planning is that it minimizes waste through coordination, and helps with controlling by establishing goals and standards. There are different types of plans based on comprehensiveness, time frame, specificity, and frequency. Steps in planning include defining goals and objectives, determining the current situation, developing future scenarios, analyzing alternatives, implementing, and evaluating results.