ITV (Place commonly used: Property) - âInsurance-to-valueâ Insurance written in an amount approximating the current-day replacement cost of the building or structure with like kind and quality of materials.
The basic steps in the management planning process involve creating a road map that outlines each task the company must accomplish to meet its overall objectives. Establish Goals The first step of the management planning process is to identify specific company goals. This portion of the planning process should include a detailed overview of each goal, including the reason for its selection and the anticipated outcomes of goal-related projects.
The highest level of planning is developing a strategic plan. Strategic planning is one of the most important functions of a company's leaders. This is the process in which a company's leaders outline its future goals and detail the ways in which they will achieve these goals.