Managing a company’s business, every manager should be aware of the risks. Although planning can not completely eliminate risk, it can be kept to a minimum. The basic idea of planning as one of the basic functions of management is a clear idea of the final business outcome, and defined goals that want to be achieved within a certain period. The basic planning instrument is a business plan that is developed to predict future business events, to reduce the level of risk, as well as financial resources and time spent. In addition to planning, it is very important to mention other management functions that are equally important for the success of the future business of a company, and these are organization, management, control and analysis. The changes introduced by information technology in the company's operations have greatly affected human resources, which has led to a significant reduction or layoff of the middle level of management in the last few years. The aim of this paper is to define planning as one of the basic functions of management and to explain the function of planning on the example of Henkel AG & Co and to include the basic financial data of the company of the same name.