STEPS IN PLANNING OR FORMULATION OF PLANS
Steps in planning / formulation of plan
1) Establishing objective
2) Establishing plan premises
3) Identification of alternatives
4) Evaluation of alternatives
5) Selecting alternatives
6) Formulation of plan
7) Arrange sequence and setting goals
8) Implementation and follow up
1)
Establishing
objectives
the first step in planning is establishing objectives. objective must be
specific, clear understandable and self explanatory to indicate what is to be
done objectives also pinpoint to the timing, as to when job is to be
accomplish.
2) Establishing plan
premises
planning premises are planning assumption. it include both internal and
external assumptions expected to achieve good result.
Internal factors include objectives,
policies, programs, financial condition, availability of raw materials,
managers attitude, forecasting etc..
External factors include the business
environment, market condition, social factors, government regulations etc…
3) Identification of alternatives
the third step is planning is to search for and examine alternative
course of action, especially based on the organizational objectives and
planning premises.
4) Evaluation of alternatives
Various alternatives which are considered feasible in term of
preliminary criteria may be evaluated while various factors.
5) Selecting the best course of
alternatives
the fifth step involve choice making. Selection of most suitable course
of action, the plan became the formal document ready for execution.
7)Arranging sequence and setting goals
starting time and finishing time are fixed for each job so as to
indicate when and at what time the work is to commenced and completed.
8) Follow up
this is the last step in planning process and is concerned with through checkup and if necessary with modification or
revision an the initial plan.
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