Planning: is the function of management that involves setting objectives and determining a course of action for achieving those objectives.A plan is simply an free outline example of activities and resources involved in achieving a goal or objective. Plans can either be: Formal plans – plans involving mostly a group of people specially in business.Goals are outcome statements that define what an organization is trying to accomplish, both programmatically and organizationally. Goals are usually a collection of related programs, a reflection of major actions of the organization, and provide rallying points for managers.Mission is the core purpose of an organization or a company. It is a summary of the aims and core values. A mission clearly tells what you as an organization do for customers.1. A mission statement is a broad declaration of the basic, unique purpose and scope of • operations that distinguishes the organization from others of this type. • 2. A mission statement serves a variety of purposes. • a. For managers, a mission statement can be a benchmark against which to evaluate success.b. For employees, mission statements define a common purpose, nurture organizational • loyalty, and help foster a sense of community among members. • c. For external groups, mission statements help provide unique insights into an organization’s values and future directions.3. The mission statement typically defines the organization in terms of the important attributes of • the organization. Answers to many of these questions are answered using information and • processes described in the two previous chapters in the text.a. Customers: Who are the organization’s customers? • b. Products or services: What are the organization’s major products or services? • c. Location: Where does the organization compete? • d. Technology: What is the firms’ basic technology?e. Philosophy: What are the basic beliefs, values, aspirations, and philosophical priorities of • the organization? • f. Self-concept: What are the organization’s major strengths and competitive advantages? • g. Concern for public image: what are the organization’s public responsibilities and what • image is desired? • h. Concern for employees: What is the organization’s attitude toward its employees?