Planning is the process of making steps for implementing action.
Like other techniques, planning is a vital method that helps bring effectiveness to the organization.
The higher authority in a firm takes and formulates these plans.
Steps involved in planning :
The steps involved in the planning are given below:
Select the objectives of planning:
The objectives should be precise, practical, measurable, and achievable.
Information gathering
In the collection of information, adequate information is required to make a plan.
Identification of Alternatives:
After collecting information, the next step is to identify various alternatives that can be taken to achieve the objectives.
Many alternatives could be undertaken to achieve the objective.
Evaluation of Alternatives:
The next step is to evaluate the various alternatives that have been identified.
In this process, all probable courses of action are analyzed carefully in terms of their feasibility and benefits.
Choosing the Best Plan:
The effectiveness of a plan depends upon its suitability, acceptability, feasibility, and consistency with the mission and objectives of an organization.
Final answer:
Steps involved in process of planning are :
Formulate Objectives:
The first and most important step in planning is to determine what is to be achieved through planning.
In other words, setting objectives or goals is important for any business.
This helps to channel all the efforts in the right direction.
Establishing Relationships:
The next step involves establishing relationships among the various activities that are required to achieve the objectives.
These relationships could be established both horizontally as well as vertically.
Prepare Alternative Courses of Action:
Once the relationships between various tasks have been defined, a manager may predict certain situations and plan alternate courses of action that the company may take in the future.
Selecting an Appropriate Course of Action:
After preparing alternative courses of action, a manager has to choose by selecting an appropriate course of action by considering various factors such as the enterprise’s resources, time constraints, etc.
Implementing and Reviewing Plans:
This would involve converting plans into actions to achieve organizational objectives.
However, this does not mean that plans once made should not be reviewed or changed thereafter.
Plans have to be reviewed from time to time and revised if necessary.