There are two types of plans, one is strategic planning and other is operational planning.

In strategic planning, decisions are taken by upper level management. It is the process where a mission is developed along with long range objectives specifically. This is done for more than 1 year. It is determined in advance about how the plans will be accomplished to meet the goals. The strategic plans are developed generally for 5 years. They are timely reviewed and revised each year so that the five year plan can be followed. Hence, it comes under corporate and business planning level.