What is the Planning Process?
What is the Planning Process?
Solution and Explanation
Planning process consists of the following :
(1) Setting Objectives : Defining objectives is the initial phase in the planning process where an organization outlines its goals, indicating what it aims to accomplish.
(2) Developing Planning Premises :Planning primarily concerns future-oriented actions, anticipating certain events that are likely to influence policy development.
(3) Identifying Alternative Courses of Action : After establishing objectives, assumptions are formulated, followed by taking action based on them. There exist numerous approaches to act and accomplish these objectives, necessitating the identification of all potential courses of action.
(4) Evaluating Alternative Course of Action : During this stage, it is crucial to assess both the favorable and unfavorable aspects of each alternative in alignment with the objectives to be attained.
(5) Selecting One Best Alternative : The optimal plan, one that maximizes profitability while minimizing adverse impacts, is chosen and put into action. In such instances, the manager's experience and judgment are pivotal in selecting the most favorable alternative.
(6) Implementing the Plan : This is when other managerial tasks come into play. It's about doing what needs to be done.
(7) Follow Up Action : Keeping a constant eye on the plan and gathering feedback regularly is called follow-up. Monitoring plans is crucial to make sure they're being carried out as scheduled.
Top Questions on Planning process steps
- Match List I with List II
LIST I
LIST II
A Procedures I Plan to get dominant position in market B Strategy II Single use plan C Project III Standing plan D Assumptions about the future IV Developing Premises
Choose the correct answer from the options given below:- CUET (UG) - 2023
- Business Studies
- Planning process steps
- Arrange the correct sequence of steps in Organizing process.
A. Identification and division of work
B. Establishing authority and reporting relationships
C. Assignment of Duties
D. Departmentalization
Choose the correct answer from the options given below:- CUET (UG) - 2023
- Business Studies
- Planning process steps
- Mr. Prateek, the Production Manager of Zim Ltd. has selected the right workforce for his department. He decides the following steps which he would adopt in the process of staffing. Arrange them in correct sequence
A. Performance Appraisal
B. Compensation
C. Placement and Orientation
D. Promotion and Career Planning
E. Training and development
Choose the correct answer from the options given below:- CUET (UG) - 2023
- Business Studies
- Planning process steps
- Zicon Ltd. has recently set a target of becoming market leader in sale of smart TV. Arrange the steps in the process of planning which will follow after setting of targets:
A. Identifying alternative courses of action
B. Implementing the plan
C. Evaluating alternative courses
D. Selecting an alternative
E. Developing premises
Choose the correct answer from the options given below:- CUET (UG) - 2023
- Business Studies
- Planning process steps
- "Planning is an Activity which enables a manager to look ahead and anticipate changes. Identify the point of Importance of Planning.
- CUET (UG) - 2023
- Business Studies
- Planning process steps
Questions Asked in CBSE CLASS XII exam
- Find the inverse of each of the matrices,if it exists \(\begin{bmatrix} 2 & 1 \\ 7 & 4 \end{bmatrix}\)
- For what values of x,\(\begin{bmatrix} 1 & 2 & 1 \end{bmatrix}\)\(\begin{bmatrix} 1 & 2 & 0\\ 2 & 0 & 1 \\1&0&2 \end{bmatrix}\)\(\begin{bmatrix} 0 \\2\\x\end{bmatrix}\)=O?
- Find the inverse of each of the matrices,if it exists. \(\begin{bmatrix} 2 & 3\\ 5 & 7 \end{bmatrix}\)
- Find the inverse of each of the matrices, if it exists. \(\begin{bmatrix} 1 & 3\\ 2 & 7\end{bmatrix}\)
- If A'= \(\begin{bmatrix} 3 & 4 \\ -1 & 2 \\ 0 &1 \end{bmatrix}\)\(\begin{bmatrix} -1 & 2 & 1 \\ 1 &2 & 3\end{bmatrix}\) , then verify that
(i) \((A+B)'=A'+B' \)
(ii) \((A-B)'=A'-B'\)
CBSE CLASS XII Notification
ICAI Announces CA January 2025 Exam ScheduleSep 21, 2024Concepts Used:
Planning process steps
The planning process involves a series of steps to ensure effective decision-making and implementation of plans. While the specific steps may vary depending on the context and purpose of planning, the general process typically includes the following:
Establishing goals and objectives: The first step in the planning process is to define the goals and objectives that the plan aims to achieve. This involves clearly stating what the desired outcomes are and aligning them with the overall vision or mission.
Gathering information and conducting analysis: In this step, relevant data and information are collected and analyzed to understand the current situation, identify challenges and opportunities, and inform the planning process. This may involve conducting research, conducting surveys, and analyzing trends and patterns.
Identifying alternatives and options: Once the information is gathered and analyzed, various alternatives and options are generated. This involves brainstorming and considering different approaches or strategies that can be pursued to achieve the goals and objectives.
Evaluating alternatives: The identified alternatives are evaluated based on various criteria such as feasibility, effectiveness, and potential risks. This step involves assessing the pros and cons of each option and selecting the most appropriate one.
Developing the plan: With the selected alternative, a detailed plan is developed. This includes defining specific actions, setting timelines, allocating resources, and assigning responsibilities. The plan should be clear, realistic, and aligned with the goals and objectives.
Implementation: The plan is put into action during this step. Tasks and activities are carried out according to the defined timelines and responsibilities. Effective communication, coordination, and monitoring are crucial during the implementation phase.
Monitoring and evaluation: The progress and outcomes of the plan are regularly monitored and evaluated. This helps in assessing whether the plan is on track, identifying any deviations or challenges, and making necessary adjustments as needed.
Review and revision: Based on the monitoring and evaluation results, the plan is reviewed periodically, and revisions are made if required. This step ensures that the plan remains relevant and responsive to changing circumstances.
By following these steps, organizations and individuals can effectively plan and execute their initiatives, ensuring that they are well-prepared, informed, and adaptable to achieve their desired outcomes.
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