This document is from a chapter about planning in a management textbook. It discusses the definition of planning as a primary managerial activity involving defining goals, strategies, and work plans. It describes the purposes of planning as providing direction, reducing uncertainty, and setting standards for control. Studies show a relationship between formal planning and higher profits/performance, though the external environment can reduce this impact. The document outlines different types of goals and plans, and discusses traditional goal setting, management by objectives, developing goals and plans, and contemporary issues in planning.