A plan is an organised way of doing something. An effective plan is one that has been arranged after careful consideration, for conducting a future activity. The term "planning" denotes organising how something should be done, especially how a company should be run to make profits.
Planning is the process of selecting realistically attainable business objectives and formulating the general policies and the specific directions needed to achieve these objectives.
Long range planning can be defined as an exercise aimed at formulating a long-term plan, to meet future needs estimated usually by extrapolation of present or known needs. It begins with the current status and charts out a path to the projected status, and generally includes short-term plans for achieving interim goals. Strategic planning concepts and the notion of long-range planning will continue to be integral parts of responsible management.
CMC did not utilise effective long rang planning. They continued to focus on the here and now rather than aim towards adjusting their business model in order to become more competitive in the field of prestressed concrete, given its significant growth in popularity in the construction industry. CMC began as virtual pioneers in the prestressed concrete industry providing a product which not many other businesses were embracing. CMC were also a one stop shop in that that had staff who contributed to the entire acquisition process of the product. They had personnel who sold the product, drafted the plans to implement the product, estimate the cost of implementing the product, engineering the product to be incorporated and transport of the product to the construction site. They refused to consider restructuring their organisation or even to outsource certain components of the
