Planning process

PLANNING PROCESS

1. Setting Objectives:
   • End  goals  for which  organization works
   • Should be well defined, specific, quantitative, and realistic.
   • Maximum people must  participate in the objective of the setting process
2. Developing Premises:
   • Consists of forecasting future conditions likely to have an influence on goals like demand for good cost of raw materials, state of technology, govt. Policies etc.
   • Known as planning premises.
3. Identifying alternative courses of action:
   • Many ways to act and achieve objectives and alternative courses of action should be identified.
   • Action can adapt by involving more people and sharing their ideas.

                        Sales can be increased by either reducing the price, improving quality, or more promotions.

4. Evaluating alternative courses:
   • The positive and negative aspects of each proposal need to be evaluated according to the need of the organization

                        Example: - Reducing price will affect revenue

5. Choosing an alternative:
   • • Best plan has to be adopted and implemented.
     • Would be the most possible, profitable and with the least negative consequences.
     • Understanding customer needs can be a better option.
6. Implement the plan:
   • Concerned with putting the plan into action
   • For example, to increase sales then more advertisement and sales promotional methods are required
7. Follow-up action:
   • To see whether plans are being implemented and activities are performed according to schedule.
   • Once a plan is implemented it requires continuous monitoring