* “Planning is deciding in advance what to do, how to do it, when to do it, and who is to do it.”
- Koontz & O’Donnell
“Planning is deciding in advance what is to be done.”
The various steps involved in planning process are as follows:
1. Awareness of opportunities and problems:
The first step in planning process is the awareness of business opportunity or the problems to provide for in future. Present and future opportunities must be found out so that planning may be undertaken to take advantage of them.
2. Collecting and analysing information:
The next step is to gather adequate information and data relating to ...view middle of the document...
Evaluation of alternatives and selection
The next step is to evaluate all possible alternatives with reference to cost, speed, quality, etc., and selecting best course of action.
7. Determinig secondary plans:
After selecting the best course of action, the management has to formulate the secondary plans to support the basic plan. For example, after developing the basic production plan, a number of secondary plans for the purchasing of raw materials, acquisition of plant and machinery, training of workers, arranging for adequate finance etc. have to be prepared for the successful operation of the basic plan
8. Providing for follow-up and future evaluation:
In order to see that the plans are proceeding along the right lines, it is necessary for the management to device a system for continuous evaluation and appraisal of the plan.
Classification Of Plans:
Strategic Management Plans – It involves proper planning and far-sightedness for conceptualizing the strengths and weaknesses of the organization, pertaining to the environment in which it exists. Strategic Management Plans deals with the envisioning of at least three to five years in the future and deciding what are the pathways that the organization intends to take and...